Meeder Advisory Services Inc. Has $1.42 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Meeder Advisory Services Inc. trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.8% during the fourth quarter, HoldingsChannel reports. The fund owned 3,845 shares of the company’s stock after selling 192 shares during the period. Meeder Advisory Services Inc.’s holdings in Elevance Health were worth $1,418,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the 3rd quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the 4th quarter valued at approximately $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health during the 4th quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the 4th quarter worth approximately $30,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

NYSE ELV opened at $429.36 on Thursday. The stock has a market cap of $97.20 billion, a PE ratio of 16.77, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a 50-day moving average of $407.13 and a 200-day moving average of $418.89. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.59%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Insider Transactions at Elevance Health

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ELV shares. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

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.