Elevance Health, Inc. $ELV Shares Bought by ProVise Management Group LLC

ProVise Management Group LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 16.2% during the second quarter, HoldingsChannel reports. The fund owned 23,524 shares of the company’s stock after acquiring an additional 3,277 shares during the quarter. ProVise Management Group LLC’s holdings in Elevance Health were worth $9,150,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELV. Verdence Capital Advisors LLC lifted its stake in shares of Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after acquiring an additional 790 shares during the period. World Investment Advisors raised its holdings in Elevance Health by 17.0% during the 2nd quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after buying an additional 3,988 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Elevance Health by 11.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after purchasing an additional 817 shares during the period. Focus Partners Wealth grew its holdings in shares of Elevance Health by 4.6% during the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after buying an additional 982 shares in the last quarter. Finally, Asio Capital LLC grew its stake in Elevance Health by 7.1% during the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after acquiring an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $325.94 on Friday. The stock has a market capitalization of $72.44 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.23 and a beta of 0.60. The firm’s 50-day moving average price is $329.73 and its two-hundred day moving average price is $341.83. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio is 27.96%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Guggenheim upped their price target on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Argus reissued a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. UBS Group cut their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target on the stock. Finally, Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Hold” and an average target price of $397.33.

Elevance Health Profile

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.