Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Wealth Enhancement Advisory Services LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,166 shares of the company’s stock after purchasing an additional 739 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Elevance Health were worth $7,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raelipskie Partnership bought a new stake in Elevance Health during the 3rd quarter valued at $26,000. PSI Advisors LLC bought a new stake in Elevance Health during the third quarter valued at about $27,000. Eastern Bank purchased a new position in Elevance Health in the third quarter valued at about $31,000. Dunhill Financial LLC raised its holdings in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health during the third quarter valued at about $44,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 0.5 %

Shares of Elevance Health stock opened at $381.41 on Monday. The stock has a market cap of $88.46 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. The firm has a fifty day moving average price of $391.39 and a 200 day moving average price of $471.32. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $8.99 EPS. Equities research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, December 5th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ELV shares. Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. Finally, StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

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.