First Hawaiian Bank Lowers Stock Position in Elevance Health, Inc. (NYSE:ELV)

First Hawaiian Bank cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 25.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,774 shares of the company’s stock after selling 1,597 shares during the quarter. First Hawaiian Bank’s holdings in Elevance Health were worth $1,761,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. InvesTrust purchased a new position in shares of Elevance Health in the 4th quarter worth approximately $649,000. First County Bank CT purchased a new position in Elevance Health in the fourth quarter worth $290,000. Diversified Trust Co boosted its position in Elevance Health by 13.7% in the fourth 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 during the last quarter. Fortem Financial Group LLC grew its stake in Elevance Health by 1.9% in the 4th quarter. Fortem Financial Group LLC now owns 2,355 shares of the company’s stock valued at $869,000 after purchasing an additional 44 shares during the period. Finally, Pensionfund Sabic increased its position in shares of Elevance Health by 59.0% during the 4th quarter. Pensionfund Sabic now owns 4,850 shares of the company’s stock valued at $1,789,000 after purchasing an additional 1,800 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 0.5 %

Shares of Elevance Health stock opened at $382.71 on Thursday. The company’s 50-day moving average price is $392.50 and its 200-day moving average price is $473.95. The company has a market cap of $88.76 billion, a price-to-earnings ratio of 13.95, 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 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 announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $8.99 earnings per share. On average, equities analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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 1.70%. Elevance Health’s dividend payout ratio is currently 23.77%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ELV shares. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Cantor Fitzgerald decreased their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, TD Cowen lowered their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health has an average 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.