Kingswood Wealth Advisors LLC cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,876 shares of the company's stock after selling 829 shares during the period. Kingswood Wealth Advisors LLC's holdings in Elevance Health were worth $3,424,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $26,000. Riverview Trust Co lifted its stake in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after buying an additional 67 shares during the period. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health in the fourth quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have issued reports on ELV. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Barclays lowered their target price on Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $498.87.
View Our Latest Report on Elevance Health
Elevance Health Stock Down 0.6%
NYSE ELV traded down $2.20 on Friday, reaching $373.71. The company had a trading volume of 2,939,325 shares, compared to its average volume of 1,571,558. The stock has a market capitalization of $84.43 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.96 and a beta of 0.60. The company's fifty day moving average is $400.00 and its 200 day moving average is $399.36. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.83%. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.
Insider Buying and Selling at Elevance Health
In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's 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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at $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 available through the SEC website. Corporate insiders own 0.29% of the company's stock.
About Elevance Health
(
Free Report)
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.
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