Dynamic Advisor Solutions LLC Has $3.14 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Dynamic Advisor Solutions LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 4.7% during the first quarter, HoldingsChannel.com reports. The fund owned 7,217 shares of the company’s stock after selling 354 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Elevance Health were worth $3,139,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ELV. Everpar Advisors LLC bought a new position in shares of Elevance Health in the 1st quarter valued at $264,000. Palouse Capital Management Inc. boosted its stake in Elevance Health by 14.8% in the first quarter. Palouse Capital Management Inc. now owns 4,671 shares of the company’s stock valued at $2,032,000 after buying an additional 601 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Elevance Health by 36.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company’s stock valued at $11,991,000 after acquiring an additional 7,410 shares during the last quarter. CVA Family Office LLC raised its stake in Elevance Health by 27.7% during the first quarter. CVA Family Office LLC now owns 562 shares of the company’s stock worth $244,000 after acquiring an additional 122 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC lifted its holdings in shares of Elevance Health by 28.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 5,275 shares of the company’s stock worth $2,295,000 after acquiring an additional 1,160 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ELV. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the stock a “buy” rating in a research report on Monday, June 9th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $498.87.

Elevance Health Stock Performance

Shares of ELV opened at $384.49 on Monday. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The company has a market cap of $86.87 billion, a PE ratio of 15.01, a P/E/G ratio of 1.18 and a beta of 0.60. The stock has a 50-day moving average of $404.71 and a 200-day moving average of $400.15. 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) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio is currently 26.69%.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

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.