Alpha Omega Wealth Management LLC Sells 256 Shares of Elevance Health, Inc. (NYSE:ELV)

Alpha Omega Wealth Management LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 24.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 793 shares of the company’s stock after selling 256 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Elevance Health were worth $412,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in Elevance Health during the second quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health during the second quarter worth $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health during the first quarter worth $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Elevance Health during the fourth quarter worth $28,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Elevance Health during the first quarter worth $32,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELV. Morgan Stanley began coverage on Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a report on Tuesday. Stephens restated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a report on Thursday, September 5th. Truist Financial raised their price target on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company decreased their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $604.29.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is owned by insiders.

Elevance Health Trading Down 1.2 %

ELV traded down $6.18 during midday trading on Friday, reaching $492.07. 1,473,893 shares of the company were exchanged, compared to its average volume of 1,018,150. The stock has a market capitalization of $114.37 billion, a P/E ratio of 18.60, a PEG ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50-day simple moving average is $535.87 and its 200 day simple moving average is $529.70. Elevance Health, Inc. has a one year low of $435.31 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $9.04 earnings per share. As a group, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

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.