Elevance Health, Inc. (NYSE:ELV) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 17.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,136 shares of the company’s stock after selling 1,319 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Elevance Health were worth $3,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ELV. Richwood Investment Advisors LLC grew its holdings in shares of Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares during the period. Bell Investment Advisors Inc grew its holdings in shares of Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares during the period. Alliance Wealth Advisors LLC grew its holdings in shares of Elevance Health by 2.9% in the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after purchasing an additional 21 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Elevance Health by 2.5% in the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after purchasing an additional 22 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its holdings in shares of Elevance Health by 8.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after purchasing an additional 22 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Up 1.1 %

Shares of NYSE:ELV opened at $541.86 on Friday. The firm’s 50 day moving average price is $534.36 and its 200 day moving average price is $508.85. The stock has a market cap of $125.94 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $9.46 earnings per share. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were paid a $1.63 dividend. The ex-dividend date was Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analysts Set New Price Targets

Several research analysts have weighed in on ELV shares. Royal Bank of Canada increased their target price on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Robert W. Baird started coverage on shares of Elevance Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price for the company. Finally, Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $611.36.

About Elevance Health

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.