Kingswood Wealth Advisors LLC Sells 2,028 Shares of Elevance Health, Inc. (NYSE:ELV)

Kingswood Wealth Advisors LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 18.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,705 shares of the company’s stock after selling 2,028 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Elevance Health were worth $3,211,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Raelipskie Partnership bought a new position in Elevance Health during the third quarter valued at approximately $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter valued at $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth $31,000. Dunhill Financial LLC grew its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in Elevance Health in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $525.60.

Elevance Health Stock Up 0.0 %

Shares of ELV stock opened at $401.43 on Monday. The stock has a market cap of $93.10 billion, a P/E ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. The company’s fifty day simple moving average is $386.21 and its two-hundred day simple moving average is $461.87. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Analysts predict that Elevance Health, Inc. will post 32.95 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.70%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

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.