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

Kestra Private Wealth Services LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 31.0% in the 4th quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC boosted its position in Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock worth $341,956,000 after purchasing an additional 656,344 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock valued at $370,794,000 after buying an additional 538,978 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after buying an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after buying an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after buying an additional 286,905 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 0.5 %

Shares of ELV stock traded down $2.02 during mid-day trading on Friday, hitting $389.58. The stock had a trading volume of 1,202,248 shares, compared to its average volume of 1,761,671. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market capitalization of $90.35 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The firm's 50-day moving average is $385.08 and its two-hundred day moving average is $449.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

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

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio is 25.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research report on Friday, October 18th. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a report on Friday, October 18th. Finally, Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health 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.