Elevance Health, Inc. (NYSE:ELV) Shares Sold by KFG Wealth Management LLC

KFG Wealth Management LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 962 shares of the company’s stock after selling 40 shares during the period. KFG Wealth Management LLC’s holdings in Elevance Health were worth $499,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. abrdn plc increased its position in Elevance Health by 86.8% in the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after acquiring an additional 129,364 shares during the period. Cerity Partners LLC raised its stake in Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares during the period. Canoe Financial LP lifted its holdings in shares of Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Elevance Health in the 4th quarter worth about $218,000. Finally, Tower Research Capital LLC TRC grew its position in Elevance Health by 114.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Performance

NYSE:ELV traded down $5.70 during mid-day trading on Wednesday, hitting $530.22. The stock had a trading volume of 656,206 shares, compared to its average volume of 1,023,572. The company’s 50 day simple moving average is $534.47 and its 200 day simple moving average is $509.86. The stock has a market cap of $123.23 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $550.34.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Mizuho increased their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a report on Wednesday, June 12th. Wells Fargo & Company boosted their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Baird R W raised shares of Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $611.36.

Elevance Health 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.