Aviso Wealth Management Sells 24 Shares of Elevance Health, Inc. (NYSE:ELV)

Aviso Wealth Management trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 566 shares of the company’s stock after selling 24 shares during the period. Aviso Wealth Management’s holdings in Elevance Health were worth $307,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank & Trust Co bought a new position in shares of Elevance Health in the second quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health in the 1st quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the 4th quarter valued at $28,000. Finally, Register Financial Advisors LLC bought a new position in shares of Elevance Health during the 1st quarter valued at $32,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.7 %

Shares of ELV opened at $523.95 on Friday. The firm’s 50-day moving average price is $536.54 and its 200-day moving average price is $530.03. The firm has a market capitalization of $121.78 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.17 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.04 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

Several analysts have issued reports on ELV shares. TD Cowen cut their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Morgan Stanley started coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research report on Friday, September 20th. Barclays cut their target price on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. Finally, Royal Bank of Canada upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Corporate insiders own 0.35% of the company’s stock.

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.