Global Trust Asset Management LLC Sells 31 Shares of Elevance Health, Inc. (NYSE:ELV)

Global Trust Asset Management LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,686 shares of the company’s stock after selling 31 shares during the quarter. Global Trust Asset Management LLC’s holdings in Elevance Health were worth $874,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc lifted its position in shares of Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after acquiring an additional 129,364 shares during the period. Cerity Partners LLC grew its position in Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after buying an additional 9,199 shares during the period. Canoe Financial LP lifted its holdings in Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Elevance Health during the fourth quarter valued at about $218,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Elevance Health by 114.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Transactions 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 value of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ELV. Mizuho upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a report on Wednesday, June 12th. Robert W. Baird started coverage on shares of Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price objective on the stock. Jefferies Financial Group increased their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Bank of America increased their price target on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $611.36.

Elevance Health Price Performance

NYSE ELV traded up $4.99 on Monday, reaching $539.41. 240,829 shares of the company’s stock traded hands, compared to its average volume of 1,032,293. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $550.34. 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 stock has a 50-day simple moving average of $532.04 and a 200 day simple moving average of $506.97. The stock has a market cap of $125.37 billion, a PE ratio of 20.20, a P/E/G ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating 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 business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same period last year, the business earned $9.46 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts predict that Elevance Health, Inc. will post 37.2 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

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.