Elevance Health, Inc. (NYSE:ELV) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lessened its stake in Elevance Health, Inc. (NYSE:ELVFree Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,922 shares of the company’s stock after selling 263 shares during the quarter. KCM Investment Advisors LLC’s holdings in Elevance Health were worth $6,062,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Van ECK Associates Corp grew its stake in Elevance Health by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 11,044 shares of the company’s stock valued at $4,809,000 after buying an additional 172 shares during the last quarter. Burney Co. boosted its holdings in Elevance Health by 0.6% in the 3rd quarter. Burney Co. now owns 9,147 shares of the company’s stock valued at $3,983,000 after purchasing an additional 56 shares during the period. ProVise Management Group LLC boosted its holdings in Elevance Health by 334.9% in the 3rd quarter. ProVise Management Group LLC now owns 16,769 shares of the company’s stock valued at $7,302,000 after purchasing an additional 12,913 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Elevance Health by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,478,154 shares of the company’s stock valued at $643,618,000 after purchasing an additional 7,828 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Elevance Health by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,887 shares of the company’s stock valued at $2,128,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 87.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ELV. Morgan Stanley raised their price objective on shares of Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. JPMorgan Chase & Co. reduced their price objective on shares of Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a report on Friday, November 17th. Royal Bank of Canada increased their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $547.00 target price on shares of Elevance Health in a research report on Friday. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $564.60.

Check Out Our Latest Analysis on ELV

Elevance Health Stock Performance

Shares of ELV traded up $2.20 during trading hours on Tuesday, hitting $492.53. The company had a trading volume of 257,125 shares, compared to its average volume of 1,219,328. The firm has a market cap of $115.74 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.11 and a beta of 0.78. The business has a fifty day moving average of $477.03 and a 200-day moving average of $463.88. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $501.78. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.23 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 37.14 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be given a $1.63 dividend. The ex-dividend date is Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.32%. Elevance Health’s dividend payout ratio is presently 23.52%.

Elevance Health Profile

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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