Elevance Health, Inc. (NYSE:ELV) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,532 shares of the company’s stock after buying an additional 1,031 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Elevance Health were worth $10,671,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $1,135,014,000. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock valued at $641,355,000 after buying an additional 1,472,712 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock valued at $335,254,000 after buying an additional 895,658 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in shares of Elevance Health in the 4th quarter valued at $294,751,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Mizuho raised their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $481.87.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 2.5%

Shares of NYSE ELV opened at $344.51 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 52 week low of $309.71 and a 52 week high of $567.26. The firm has a 50-day moving average price of $376.31 and a 200 day moving average price of $396.73. The stock has a market capitalization of $77.84 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

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.