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

Kingsview Wealth Management LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 36.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,501 shares of the company’s stock after acquiring an additional 6,250 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Elevance Health were worth $8,670,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Atomi Financial Group Inc. boosted its holdings in shares of Elevance Health by 4.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after buying an additional 25 shares during the period. Brookstone Capital Management grew its stake in shares of Elevance Health by 7.5% in the third quarter. Brookstone Capital Management now owns 1,399 shares of the company’s stock valued at $728,000 after acquiring an additional 97 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of Elevance Health by 1.4% in the third quarter. Daymark Wealth Partners LLC now owns 2,150 shares of the company’s stock valued at $1,118,000 after buying an additional 30 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Elevance Health by 46.2% in the third quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock worth $49,000 after purchasing an additional 30 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of Elevance Health by 12.7% during the 3rd quarter. Wedmont Private Capital now owns 2,348 shares of the company’s stock worth $1,155,000 after acquiring an additional 265 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.2 %

Shares of ELV opened at $391.23 on Friday. The firm has a market cap of $90.73 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business has a 50-day moving average of $386.20 and a 200 day moving average of $454.49. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

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

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.75%. Elevance Health’s dividend payout ratio is currently 25.46%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen dropped their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. UBS Group reduced their price objective 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. Morgan Stanley lowered their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

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.