First National Trust Co Has $435,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

First National Trust Co boosted its position in Elevance Health, Inc. (NYSE:ELV) by 13.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 837 shares of the company’s stock after acquiring an additional 100 shares during the period. First National Trust Co’s holdings in Elevance Health were worth $435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. American Trust lifted its position in shares of Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares during the last quarter. Private Ocean LLC lifted its holdings in Elevance Health by 6.7% during the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after purchasing an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its position in Elevance Health by 1.9% during the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after purchasing an additional 23 shares during the period. Cypress Wealth Services LLC increased its holdings in shares of Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares during the last quarter. Finally, CVA Family Office LLC raised its position in shares of Elevance Health by 4.2% in the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after purchasing an additional 24 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ELV shares. TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Wells Fargo & Company lowered their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Truist Financial reissued a “buy” rating and set a $520.00 price target (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Morgan Stanley decreased their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $410.89 on Thursday. The firm’s 50 day simple moving average is $483.60 and its 200 day simple moving average is $516.04. The firm has a market capitalization of $95.29 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the business posted $8.99 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.59%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Elevance Health Company 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.