Kingsview Wealth Management LLC Sells 9,199 Shares of Elevance Health, Inc. $ELV

Kingsview Wealth Management LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 37.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 15,424 shares of the company’s stock after selling 9,199 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Elevance Health were worth $5,965,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Kilter Group LLC purchased a new position in Elevance Health during the second quarter worth about $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health in the 4th quarter valued at about $32,000. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its position in shares of Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Evercore reissued a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

ELV opened at $395.28 on Friday. The stock has a 50-day moving average price of $395.36 and a 200-day moving average price of $362.06. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $85.72 billion, a P/E ratio of 17.57, a PEG ratio of 2.28 and a beta of 0.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $8.84 EPS. Equities analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.