Shufro Rose & Co. LLC Sells 300 Shares of Elevance Health, Inc. (NYSE:ELV)

Shufro Rose & Co. LLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,300 shares of the company’s stock after selling 300 shares during the period. Shufro Rose & Co. LLC’s holdings in Elevance Health were worth $566,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Elevance Health during the 3rd quarter valued at $25,000. Alaska Permanent Fund Corp purchased a new stake in shares of Elevance Health during the 4th quarter valued at $31,000. ORG Partners LLC purchased a new stake in shares of Elevance Health during the 4th quarter valued at $40,000. Orion Capital Management LLC purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $46,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $51,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $2.42 during trading on Friday, hitting $537.26. The company had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The stock has a 50 day simple moving average of $511.89 and a 200 day simple moving average of $486.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The firm has a market capitalization of $124.87 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78.

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

Elevance Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent research reports. Barclays lifted their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value 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 approximately $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

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.