Kestra Private Wealth Services LLC Buys 773 Shares of Elevance Health, Inc. (NYSE:ELV)

Kestra Private Wealth Services LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 12.9% during the 4th quarter, Holdings Channel reports. The fund owned 6,774 shares of the company’s stock after acquiring an additional 773 shares during the period. Kestra Private Wealth Services LLC’s holdings in Elevance Health were worth $3,194,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after purchasing an additional 255,138 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Elevance Health by 212.7% in the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock valued at $159,726,000 after buying an additional 249,533 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock valued at $279,063,000 after buying an additional 234,439 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Elevance Health by 18.2% in the 3rd quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after acquiring an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Elevance Health by 59.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after acquiring an additional 182,889 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock opened at $524.84 on Thursday. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The firm’s 50-day simple moving average is $513.01 and its two-hundred day simple moving average is $488.20. The firm has a market cap of $121.98 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the firm posted $9.46 EPS. Elevance Health’s revenue was up .9% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Elevance Health’s payout ratio is 24.64%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELV. Mizuho increased their price objective on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Company lifted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Barclays increased their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.