Hancock Whitney Corp Sells 940 Shares of Elevance Health, Inc. (NYSE:ELV)

Hancock Whitney Corp decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 27.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,509 shares of the company’s stock after selling 940 shares during the quarter. Hancock Whitney Corp’s holdings in Elevance Health were worth $1,305,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ELV. American Trust increased its holdings in shares of Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after buying an additional 20 shares in the last quarter. Private Ocean LLC raised its holdings in shares of Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after buying an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. increased its position in Elevance Health by 1.9% in the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after acquiring an additional 23 shares in the last quarter. Cypress Wealth Services LLC boosted its holdings in Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the last quarter. Finally, CVA Family Office LLC lifted its position in Elevance Health by 4.2% during the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after purchasing an additional 24 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated 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. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

Shares of ELV opened at $401.80 on Wednesday. The stock has a market capitalization of $93.19 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a 12 month low of $391.02 and a 12 month high of $567.26. The firm has a fifty day simple moving average of $454.96 and a 200 day simple moving average of $506.95. 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 posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.99 earnings per share. Research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio is presently 23.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ELV. Cantor Fitzgerald dropped 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. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company decreased their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Truist Financial reissued a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Finally, Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Company 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.