Kingsview Wealth Management LLC Buys 16,552 Shares of Elevance Health, Inc. $ELV

Kingsview Wealth Management LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 67.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,975 shares of the company’s stock after buying an additional 16,552 shares during the period. Kingsview Wealth Management LLC’s holdings in Elevance Health were worth $13,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. 111 Capital bought a new position in Elevance Health in the third quarter worth approximately $820,000. Elo Mutual Pension Insurance Co grew its position in shares of Elevance Health by 21.9% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 35,583 shares of the company’s stock worth $11,498,000 after buying an additional 6,387 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Elevance Health during the third quarter valued at $444,000. Fairtree Asset Management Pty Ltd lifted its stake in Elevance Health by 29.1% in the third quarter. Fairtree Asset Management Pty Ltd now owns 3,242 shares of the company’s stock worth $1,048,000 after acquiring an additional 730 shares during the period. Finally, Journey Strategic Wealth LLC increased its position in Elevance Health by 19.7% during the 3rd quarter. Journey Strategic Wealth LLC now owns 2,739 shares of the company’s stock valued at $885,000 after purchasing an additional 450 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.7%

NYSE:ELV opened at $320.65 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a market cap of $70.77 billion, a PE ratio of 12.76, a P/E/G ratio of 1.77 and a beta of 0.51. The company’s 50 day moving average is $350.23 and its two-hundred day moving average is $335.99.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. During the same period in the previous year, the firm posted $3.84 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be issued a $1.72 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.1%. Elevance Health’s payout ratio is currently 27.23%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ELV shares. Royal Bank Of Canada downgraded shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective on the stock. in a research note on Tuesday, February 3rd. UBS Group set a $400.00 price target on Elevance Health in a report on Thursday, January 29th. Morgan Stanley decreased their price objective on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Guggenheim dropped their price objective on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Finally, Leerink Partners boosted their target price on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $390.55.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.