Private Advisor Group LLC Sells 272 Shares of Elevance Health, Inc. (NYSE:ELV)

Private Advisor Group LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,477 shares of the company’s stock after selling 272 shares during the quarter. Private Advisor Group LLC’s holdings in Elevance Health were worth $5,883,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ELV. Alliance Wealth Advisors LLC boosted its holdings in Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after purchasing an additional 21 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares during the period. Financial Counselors Inc. grew its holdings in shares of Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after buying an additional 22 shares in the last quarter. Sugarloaf Wealth Management LLC grew its holdings in shares of Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after buying an additional 22 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in Elevance Health by 2.5% in the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after purchasing an additional 22 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 0.5 %

Elevance Health stock opened at $533.35 on Thursday. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The firm has a 50 day moving average price of $514.57 and a two-hundred day moving average price of $490.26. The firm has a market cap of $123.96 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.16 and a beta of 0.79. 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 issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the company posted $9.46 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued 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 1.22%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analysts Set New Price Targets

ELV has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. UBS Group lifted their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company boosted their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Barclays boosted their price target on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% 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.