Elevance Health, Inc. $ELV Shares Acquired by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its stake in Elevance Health by 10.6%, owning 12,876 shares worth approximately $5.6 million as of its latest SEC filing.
• Elevance Health reported a quarterly EPS of $8.84, missing estimates, but revenue of $49.42 billion exceeded expectations, marking a 14.3% increase compared to last year.
• The company announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 2.2%, with a payout ratio of 29.11%.

Kestra Advisory Services LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,876 shares of the company's stock after acquiring an additional 1,237 shares during the period. Kestra Advisory Services LLC's holdings in Elevance Health were worth $5,601,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Integrated Wealth Concepts LLC boosted its holdings in Elevance Health by 7.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,045 shares of the company's stock worth $1,492,000 after buying an additional 289 shares in the last quarter. Northern Trust Corp boosted its holdings in Elevance Health by 16.5% during the fourth quarter. Northern Trust Corp now owns 2,449,028 shares of the company's stock worth $903,446,000 after buying an additional 346,557 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Elevance Health by 19.5% during the fourth quarter. AQR Capital Management LLC now owns 418,636 shares of the company's stock worth $154,435,000 after buying an additional 68,392 shares in the last quarter. Utah Retirement Systems boosted its holdings in Elevance Health by 0.5% during the fourth quarter. Utah Retirement Systems now owns 38,650 shares of the company's stock worth $14,258,000 after buying an additional 200 shares in the last quarter. Finally, Voleon Capital Management LP purchased a new stake in Elevance Health during the fourth quarter worth $2,668,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Susan D. Devore acquired 1,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on ELV shares. Wells Fargo & Company lowered their price target on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Morgan Stanley decreased their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Barclays decreased their price objective on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $413.81.

Elevance Health Price Performance

Shares of NYSE:ELV traded up $8.59 during midday trading on Friday, hitting $319.00. The company's stock had a trading volume of 3,115,324 shares, compared to its average volume of 2,222,173. The business's 50 day simple moving average is $317.92 and its 200 day simple moving average is $375.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $71.83 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $567.26.

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 for the quarter, missing the consensus estimate of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.12 earnings per share. On average, analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 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.