SeaCrest Wealth Management LLC Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

SeaCrest Wealth Management LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,263 shares of the company’s stock after selling 47 shares during the period. SeaCrest Wealth Management LLC’s holdings in Elevance Health were worth $1,173,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Sanders Capital LLC grew its stake in shares of Elevance Health by 4.6% during the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after acquiring an additional 196,010 shares during the last quarter. Capital International Investors grew its stake in shares of Elevance Health by 7.9% during the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after acquiring an additional 248,150 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Elevance Health by 0.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after purchasing an additional 27,986 shares during the period. Norges Bank acquired a new stake in shares of Elevance Health during the fourth quarter worth about $1,347,434,000. Finally, Morgan Stanley lifted its holdings in shares of Elevance Health by 1.7% during the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after purchasing an additional 46,322 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.3 %

Shares of ELV stock opened at $535.92 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $124.56 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.20 and a beta of 0.84. The stock has a 50 day simple moving average of $534.41 and a 200-day simple moving average of $509.38. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $550.34.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $9.46 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ELV. Baird R W raised Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Mizuho lifted their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, UBS Group boosted their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $611.36.

Elevance Health Company 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.