Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,532 shares of the company's stock after buying an additional 1,031 shares during the period. Kingsview Wealth Management LLC's holdings in Elevance Health were worth $10,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Norges Bank acquired a new position in Elevance Health during the fourth quarter worth $1,135,014,000. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Elevance Health by 81,726.5% during the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after buying an additional 1,472,712 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after acquiring an additional 895,658 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in Elevance Health during the fourth quarter worth about $294,751,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of Elevance Health stock in a transaction on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ELV. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a research note on Tuesday. Leerink Partnrs downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Guggenheim decreased their price objective on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $435.93.

Elevance Health Trading Down 8.5%

Shares of ELV traded down $25.58 during mid-day trading on Friday, reaching $276.87. The company had a trading volume of 8,379,827 shares, compared to its average volume of 1,670,815. Elevance Health, Inc. has a fifty-two week low of $276.41 and a fifty-two week high of $567.26. The firm has a fifty day simple moving average of $371.52 and a 200-day simple moving average of $395.63. The stock has a market cap of $62.55 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health's revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $10.12 EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

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.