Elevance Health, Inc. (NYSE:ELV) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 20.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,923 shares of the company’s stock after selling 2,321 shares during the quarter. Elevance Health accounts for 0.5% of Kingswood Wealth Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Kingswood Wealth Advisors LLC’s holdings in Elevance Health were worth $4,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ELV. Norges Bank bought a new stake in Elevance Health in the fourth quarter valued at about $1,347,434,000. Massachusetts Financial Services Co. MA bought a new stake in Elevance Health in the fourth quarter valued at about $467,141,000. Canoe Financial LP increased its holdings in Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after buying an additional 517,116 shares during the last quarter. Morningstar Investment Services LLC bought a new stake in Elevance Health in the fourth quarter valued at about $239,244,000. Finally, International Assets Investment Management LLC increased its holdings in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after buying an additional 255,138 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.2 %

Shares of ELV traded down $1.17 during mid-day trading on Wednesday, reaching $534.12. The company’s stock had a trading volume of 659,544 shares, compared to its average volume of 1,027,939. The business has a fifty day moving average of $533.44 and a 200 day moving average of $507.84. The company has a market cap of $124.14 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.46 earnings per share. As a group, analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ELV shares. UBS Group upped their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Morgan Stanley started coverage on Elevance Health in a report on Monday. They set an “overweight” rating and a $643.00 target price for the company. Jefferies Financial Group upped their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a report on Wednesday, June 12th. Finally, Mizuho upped their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $611.36.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

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.