Kingsview Wealth Management LLC Lowers Stock Position in Elevance Health, Inc. $ELV

Key Points

• Kingsview Wealth Management cut its Elevance Health stake by 35.2% in the fourth quarter, selling 14,415 shares and ending with 26,560 shares valued at about $9.31 million.
• Analyst sentiment remains positive, with several firms raising price targets and Bank of America upgrading the stock to buy; the consensus rating is Moderate Buy with an average target price of $403.11.
• Elevance Health reported better-than-expected quarterly results, posting EPS of $12.58 versus the $10.74 estimate and revenue of $49.49 billion, while also declaring a $1.72 quarterly dividend payable June 25.

Kingsview Wealth Management LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 35.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,560 shares of the company's stock after selling 14,415 shares during the period. Kingsview Wealth Management LLC's holdings in Elevance Health were worth $9,311,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC lifted its position in shares of Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock worth $354,000 after buying an additional 29 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its position in shares of Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock valued at $289,000 after acquiring an additional 29 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock valued at $481,000 after acquiring an additional 29 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in Elevance Health by 3.2% during the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock worth $343,000 after acquiring an additional 30 shares during the period. Finally, CoreCap Advisors LLC lifted its holdings in Elevance Health by 6.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company's stock worth $195,000 after acquiring an additional 32 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on ELV shares. Sanford C. Bernstein upped their price objective on Elevance Health from $384.00 to $424.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Wells Fargo & Company lowered their target price on Elevance Health from $424.00 to $391.00 and set an "overweight" rating on the stock in a research note on Friday, January 30th. Mizuho increased their price target on shares of Elevance Health from $385.00 to $435.00 and gave the company an "outperform" rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Finally, Bank of America raised shares of Elevance Health from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $405.00 to $435.00 in a research report on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average target price of $403.11.

Elevance Health Stock Performance

Shares of ELV opened at $392.47 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $408.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The stock's fifty day moving average price is $341.76 and its two-hundred day moving average price is $338.51. The firm has a market cap of $85.23 billion, a PE ratio of 16.69, a PEG ratio of 2.21 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter in the prior year, the company earned $11.97 EPS. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

About Elevance Health

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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