ORG Partners LLC Lowers Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

ORG Partners LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 31.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82 shares of the company’s stock after selling 37 shares during the quarter. ORG Partners LLC’s holdings in Elevance Health were worth $30,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Iridian Asset Management LLC CT lifted its stake in Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after purchasing an additional 50,603 shares in the last quarter. Diversified Trust Co lifted its stake in Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after purchasing an additional 2,725 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Elevance Health by 5.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock worth $109,127,000 after purchasing an additional 9,916 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $381.41 on Monday. The company has a market capitalization of $88.46 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm’s 50-day moving average is $391.39 and its 200 day moving average is $471.32. 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 (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.99 earnings per share. Research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.71%. Elevance Health’s dividend payout ratio is currently 23.77%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELV. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald decreased their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Finally, UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health 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.