Kestra Private Wealth Services LLC Has $3.19 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Kestra Private Wealth Services LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,774 shares of the company’s stock after purchasing an additional 773 shares during the period. Kestra Private Wealth Services LLC’s holdings in Elevance Health were worth $3,194,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ELV. OFI Invest Asset Management acquired a new stake in Elevance Health in the 3rd quarter worth $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health in the fourth quarter valued at about $31,000. ORG Partners LLC acquired a new stake in Elevance Health during the fourth quarter worth about $40,000. Orion Capital Management LLC bought a new position in Elevance Health during the third quarter valued at about $46,000. Finally, Milestone Investment Advisors LLC acquired a new position in Elevance Health in the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $524.84 on Thursday. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The stock has a market capitalization of $121.98 billion, a PE ratio of 19.84, a PEG ratio of 1.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s fifty day moving average is $513.01 and its 200-day moving average is $488.20.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the prior year, the firm earned $9.46 EPS. The company’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Buying and Selling

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ELV. Jefferies Financial Group lifted their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Truist Financial reissued a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

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.