Fox Run Management L.L.C. Cuts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Fox Run Management L.L.C. trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 48.4% during the 4th quarter, Holdings Channel reports. The firm owned 611 shares of the company’s stock after selling 574 shares during the quarter. Fox Run Management L.L.C.’s holdings in Elevance Health were worth $225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raelipskie Partnership bought a new position in shares of Elevance Health in the 3rd quarter worth $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 4th quarter worth $26,000. OFI Invest Asset Management purchased a new position in Elevance Health in the fourth quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health in the fourth quarter valued at $30,000. Finally, Crews Bank & Trust purchased a new stake in Elevance Health during the fourth quarter valued at about $34,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $431.84 on Friday. The business has a 50 day moving average of $404.45 and a 200 day moving average of $422.13. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a market cap of $98.18 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. Elevance Health’s dividend payout ratio is 26.71%.

Analyst Ratings Changes

Several equities analysts have recently commented on ELV shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Insider Transactions at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.