Elevance Health, Inc. (NYSE:ELV) Stake Lessened by KCM Investment Advisors LLC

KCM Investment Advisors LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 60.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,254 shares of the company’s stock after selling 7,990 shares during the quarter. KCM Investment Advisors LLC’s holdings in Elevance Health were worth $1,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health in the 3rd quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health in the 4th quarter valued at about $26,000. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the fourth quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a report on Monday, March 17th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Price Performance

NYSE ELV opened at $428.62 on Friday. The company has a 50 day moving average price of $408.70 and a two-hundred day moving average price of $417.38. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market capitalization of $97.03 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date was Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.