Kingsview Wealth Management LLC Reduces Stock Position in Elevance Health, Inc. $ELV

Kingsview Wealth Management LLC trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 35.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,560 shares of the company’s stock after selling 14,415 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Elevance Health were worth $9,311,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sound View Wealth Advisors Group LLC boosted its stake in Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after purchasing an additional 29 shares during the period. Fulton Breakefield Broenniman LLC increased its position in shares of Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after buying an additional 29 shares during the period. Perigon Wealth Management LLC increased its position in shares of Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after buying an additional 29 shares during the period. Savvy Advisors Inc. lifted its holdings in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after buying an additional 30 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Elevance Health by 6.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ELV. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Mizuho raised their price target on shares of Elevance Health from $385.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $397.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada cut shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target on the stock. in a report on Tuesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $403.11.

Elevance Health Stock Performance

Elevance Health stock opened at $392.47 on Friday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $408.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $85.23 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 2.21 and a beta of 0.66. The firm’s fifty day moving average price is $341.76 and its 200-day moving average price is $338.51.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a dividend of $1.72 per share. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio is 29.26%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.