Wealth Enhancement Advisory Services LLC Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 21,166 shares of the company’s stock after purchasing an additional 739 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Elevance Health were worth $7,808,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Cypress Wealth Services LLC lifted its position in shares of Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of Elevance Health by 2.9% during the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after buying an additional 26 shares in the last quarter. Finally, Fullcircle Wealth LLC raised its position in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after buying an additional 26 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on ELV shares. UBS Group dropped their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Barclays lowered their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Mizuho lowered 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. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $536.53.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Down 0.5 %

Shares of NYSE ELV opened at $381.41 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $391.39 and its two-hundred day moving average is $471.32. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market cap of $88.46 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $8.99 EPS. Research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, December 5th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

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.