EverSource Wealth Advisors LLC Has $346,000 Stock Position in Elevance Health Inc. (NYSE:ELV)

EverSource Wealth Advisors LLC grew its stake in shares of Elevance Health Inc. (NYSE:ELVGet Rating) by 27.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 704 shares of the company’s stock after purchasing an additional 153 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Elevance Health were worth $346,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. M Holdings Securities Inc. acquired a new position in shares of Elevance Health during the 1st quarter worth approximately $1,951,000. Advisory Services Network LLC boosted its stake in shares of Elevance Health by 11.1% during the 1st quarter. Advisory Services Network LLC now owns 4,810 shares of the company’s stock worth $2,362,000 after acquiring an additional 481 shares during the period. Verity Asset Management Inc. boosted its stake in shares of Elevance Health by 5.8% during the 1st quarter. Verity Asset Management Inc. now owns 1,276 shares of the company’s stock worth $632,000 after acquiring an additional 70 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Elevance Health by 9.1% during the 1st quarter. Neuberger Berman Group LLC now owns 696,117 shares of the company’s stock worth $342,027,000 after acquiring an additional 57,948 shares during the period. Finally, Sanders Capital LLC boosted its stake in shares of Elevance Health by 1.0% during the 1st quarter. Sanders Capital LLC now owns 4,081,861 shares of the company’s stock worth $2,206,855,000 after acquiring an additional 39,260 shares during the period. Institutional investors and hedge funds own 89.86% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $485.33 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.37. Elevance Health Inc. has a fifty-two week low of $363.37 and a fifty-two week high of $533.68. The company has a market cap of $116.48 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.40 and a beta of 0.89. The stock has a fifty day moving average price of $481.92 and a 200-day moving average price of $486.03.

Elevance Health (NYSE:ELVGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $8.04 EPS for the quarter, topping analysts’ consensus estimates of $7.72 by $0.32. Elevance Health had a return on equity of 19.20% and a net margin of 4.09%. The company had revenue of $38.48 billion during the quarter, compared to analysts’ expectations of $38.05 billion. During the same quarter in the previous year, the firm earned $7.03 EPS. Elevance Health’s revenue was up 15.6% on a year-over-year basis. As a group, equities analysts anticipate that Elevance Health Inc. will post 28.82 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be issued a dividend of $1.28 per share. The ex-dividend date is Thursday, September 8th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 1.05%. Elevance Health’s dividend payout ratio (DPR) is currently 20.53%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELV. StockNews.com began coverage on Elevance Health in a research note on Thursday, July 7th. They set a “strong-buy” rating for the company. Morgan Stanley reduced their target price on Elevance Health from $533.00 to $485.00 and set an “equal weight” rating for the company in a research note on Monday, July 25th. Wells Fargo & Company reduced their target price on Elevance Health from $586.00 to $580.00 and set an “overweight” rating for the company in a research note on Wednesday, May 25th. SVB Leerink upgraded Elevance Health from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $490.00 to $580.00 in a research note on Monday, August 22nd. Finally, Stephens reduced their price target on Elevance Health to $550.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $563.38.

About Elevance Health

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Elevance Health Inc operates as a health benefits company. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives. It serves approximately 118 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical, and care solutions.

See Also

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

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