EverSource Wealth Advisors LLC Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

EverSource Wealth Advisors LLC increased its position in Elevance Health, Inc. (NYSE:ELV) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,124 shares of the company’s stock after purchasing an additional 68 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Elevance Health were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Seven Mile Advisory bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $249,000. Assetmark Inc. raised its holdings in Elevance Health by 2.1% in the 4th quarter. Assetmark Inc. now owns 17,869 shares of the company’s stock worth $8,426,000 after acquiring an additional 362 shares during the last quarter. CreativeOne Wealth LLC raised its stake in Elevance Health by 56.9% during the 4th quarter. CreativeOne Wealth LLC now owns 786 shares of the company’s stock valued at $371,000 after buying an additional 285 shares during the last quarter. Quest Partners LLC bought a new position in shares of Elevance Health during the 4th quarter valued at $1,711,000. Finally, D.A. Davidson & CO. grew its holdings in shares of Elevance Health by 1.2% in the fourth quarter. D.A. Davidson & CO. now owns 5,657 shares of the company’s stock worth $2,668,000 after acquiring an additional 69 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction 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 $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock traded down $1.78 during mid-day trading on Thursday, hitting $546.02. The company had a trading volume of 55,119 shares, compared to its average volume of 1,003,734. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50 day moving average price is $522.84 and its 200-day moving average price is $497.04. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $550.34. The company has a market capitalization of $126.91 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.20 and a beta of 0.79.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the company earned $9.46 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

ELV has been the topic of several research reports. Royal Bank of Canada raised their target price on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Barclays raised their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Mizuho boosted their price objective on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company raised their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $587.42.

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.