Trust Asset Management LLC Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Trust Asset Management LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,711 shares of the company’s stock after selling 160 shares during the quarter. Trust Asset Management LLC’s holdings in Elevance Health were worth $1,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avior Wealth Management LLC grew its position in Elevance Health by 12.4% during the 3rd quarter. Avior Wealth Management LLC now owns 607 shares of the company’s stock valued at $264,000 after purchasing an additional 67 shares during the last quarter. Meridian Wealth Management LLC grew its position in Elevance Health by 100.0% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,406 shares of the company’s stock valued at $1,048,000 after purchasing an additional 1,203 shares during the last quarter. B.O.S.S. Retirement Advisors LLC grew its position in Elevance Health by 11.9% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 689 shares of the company’s stock valued at $300,000 after purchasing an additional 73 shares during the last quarter. Proficio Capital Partners LLC grew its position in Elevance Health by 7.9% during the 3rd quarter. Proficio Capital Partners LLC now owns 589 shares of the company’s stock valued at $256,000 after purchasing an additional 43 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its position in Elevance Health by 5.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 570 shares of the company’s stock valued at $248,000 after purchasing an additional 31 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $5.97 during trading on Thursday, hitting $539.70. The company’s stock had a trading volume of 1,066,967 shares, compared to its average volume of 1,064,400. The company has a 50-day moving average of $511.40 and a 200-day moving average of $485.81. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $125.44 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter last year, the business earned $9.46 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Truist Financial restated 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. Mizuho upped their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group upped their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $587.42.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.