Missouri Trust & Investment Co Trims Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Posted by Defense World Staff on Sep 10th, 2023

Missouri Trust & Investment Co decreased its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150 shares of the company’s stock after selling 25 shares during the period. Missouri Trust & Investment Co’s holdings in Elevance Health were worth $69,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the first quarter worth about $25,000. Fortis Capital Advisors LLC purchased a new position in shares of Elevance Health in the fourth quarter worth about $29,000. TD Capital Management LLC purchased a new position in shares of Elevance Health in the fourth quarter worth about $30,000. New Hampshire Trust purchased a new position in shares of Elevance Health in the fourth quarter worth about $33,000. Finally, Trust Co. of Vermont purchased a new position in shares of Elevance Health in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 310 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $476.71, for a total value of $147,780.10. Following the completion of the sale, the director now directly owns 9,638 shares in the company, valued at approximately $4,594,530.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.4 %

Shares of ELV opened at $448.75 on Friday. The firm has a market cap of $105.75 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.13 and a beta of 0.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $549.52. The firm has a 50 day moving average price of $455.66 and a 200-day moving average price of $460.06.

Elevance Health (NYSE:ELV – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The company reported $9.04 earnings per share for the quarter, topping analysts’ consensus estimates of $8.78 by $0.26. The firm had revenue of $43.38 billion during the quarter, compared to analyst estimates of $41.64 billion. Elevance Health had a net margin of 3.87% and a return on equity of 20.24%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $8.04 EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 32.91 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $1.48 dividend. The ex-dividend date is Thursday, September 7th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.32%. Elevance Health’s payout ratio is 22.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ELV shares. StockNews.com started coverage on shares of Elevance Health in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company. Truist Financial reduced their price objective on shares of Elevance Health from $580.00 to $560.00 in a research note on Tuesday, June 20th. TD Cowen boosted their price objective on shares of Elevance Health from $564.00 to $585.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Wolfe Research cut shares of Elevance Health from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Elevance Health from $572.00 to $535.00 in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $568.46.

View Our Latest Stock Analysis on ELV

Elevance Health Profile

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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