Elevance Health, Inc. $ELV Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,299 shares of the company’s stock after selling 748 shares during the period. RWA Wealth Partners LLC’s holdings in Elevance Health were worth $15,675,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Private Wealth Management Group LLC grew its stake in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC acquired a new stake in Elevance Health in the 1st quarter worth approximately $29,000. Glass Jacobson Investment Advisors llc grew its position in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank acquired a new position in Elevance Health during the 1st quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC acquired a new position in Elevance Health during the 1st quarter valued at approximately $43,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $317.51 on Friday. The company has a market capitalization of $70.56 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company’s fifty day moving average price is $329.41 and its 200 day moving average price is $345.36. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the prior year, the firm posted $8.37 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s payout ratio is 27.96%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ELV. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday. Bank of America increased their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Truist Financial set a $400.00 price objective on Elevance Health in a research note on Tuesday, October 14th. Finally, TD Cowen upped their target price on Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $397.33.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.