Elevance Health, Inc. (NYSE:ELV) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 31.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,035 shares of the company’s stock after selling 2,707 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Elevance Health were worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. Stephens Inc. AR raised its position in shares of Elevance Health by 0.7% during the 4th quarter. Stephens Inc. AR now owns 21,034 shares of the company’s stock worth $7,760,000 after purchasing an additional 156 shares during the period. Alliance Wealth Advisors LLC grew its stake in Elevance Health by 29.2% during the 4th quarter. Alliance Wealth Advisors LLC now owns 903 shares of the company’s stock worth $333,000 after buying an additional 204 shares during the last quarter. Empirical Finance LLC increased its position in Elevance Health by 10.4% in the fourth quarter. Empirical Finance LLC now owns 10,300 shares of the company’s stock worth $3,800,000 after buying an additional 973 shares during the period. Empowered Funds LLC lifted its stake in Elevance Health by 47.4% in the fourth quarter. Empowered Funds LLC now owns 61,872 shares of the company’s stock valued at $22,825,000 after buying an additional 19,907 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Elevance Health by 36.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 23,501 shares of the company’s stock valued at $8,670,000 after acquiring an additional 6,250 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $391.04 on Wednesday. The firm has a 50-day moving average of $385.59 and a two-hundred day moving average of $452.12. The company has a market capitalization of $90.69 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.17 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts expect that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is presently 25.46%.

Analyst Ratings Changes

ELV has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Truist Financial decreased their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

About Elevance Health

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.