Simplicity Wealth LLC Has $1.20 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Simplicity Wealth LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 90.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,300 shares of the company’s stock after selling 22,607 shares during the period. Simplicity Wealth LLC’s holdings in Elevance Health were worth $1,196,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Bank & Trust Co purchased a new stake in shares of Elevance Health in the second quarter valued at about $27,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health in the first quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the second quarter valued at about $28,000. Strategic Financial Concepts LLC purchased a new stake in shares of Elevance Health in the second quarter valued at about $30,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Elevance Health in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Tuesday, October 1st. Royal Bank of Canada increased their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Morgan Stanley initiated coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. Finally, Barclays increased their price target on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and an average price target of $605.07.

Elevance Health Price Performance

ELV stock opened at $501.88 on Friday. The firm has a 50 day moving average of $531.94 and a 200-day moving average of $529.09. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12 month low of $435.99 and a 12 month high of $567.26. The firm has a market capitalization of $116.65 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same period last year, the business earned $9.04 earnings per share. Elevance Health’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were given a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Activity

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a 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 business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by company insiders.

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.