Elevance Health, Inc. (NYSE:ELV) Shares Sold by UMB Bank n.a.

by · The Cerbat Gem

UMB Bank n.a. trimmed its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,479 shares of the company’s stock after selling 167 shares during the quarter. UMB Bank n.a.’s holdings in Elevance Health were worth $1,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank & Trust Co purchased a new stake in Elevance Health in the second quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at about $28,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health in the first quarter worth about $28,000. Register Financial Advisors LLC acquired a new stake in Elevance Health during the first quarter worth about $32,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in Elevance Health during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a report on Tuesday, October 1st. Wells Fargo & Company cut their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Morgan Stanley began coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Finally, TD Cowen dropped their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $605.07.

Read Our Latest Stock Report on ELV

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 in the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $501.88 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 1 year low of $435.99 and a 1 year high of $567.26. The firm has a market capitalization of $116.38 billion, a PE ratio of 17.60, a P/E/G ratio of 1.08 and a beta of 0.82. The business’s 50 day moving average price is $531.94 and its 200-day moving average price is $529.01.

Elevance Health (NYSE:ELV – Get Free Report) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.04 EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. Elevance Health’s payout ratio is 22.86%.

About Elevance Health

(Free Report)

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.

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