Kingsview Wealth Management LLC Buys 6,250 Shares of Elevance Health, Inc. (NYSE:ELV)

Kingsview Wealth Management LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 36.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,501 shares of the company’s stock after buying an additional 6,250 shares during the period. Kingsview Wealth Management LLC’s holdings in Elevance Health were worth $8,670,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ELV. Mutual Advisors LLC boosted its holdings in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after buying an additional 52 shares in the last quarter. Czech National Bank lifted its holdings in shares of Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after purchasing an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT boosted its holdings in Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after acquiring an additional 3,786 shares in the last quarter. International Assets Investment Management LLC increased its stake in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after acquiring an additional 50,603 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $391.23 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a market capitalization of $90.73 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.19 and a beta of 0.83. The firm’s 50-day moving average is $386.20 and its 200 day moving average is $454.49.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Research analysts predict that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. Elevance Health’s payout ratio is presently 25.46%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ELV shares. UBS Group lowered their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $517.03.

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.