Avantax Advisory Services Inc. Raises Stake in Elevance Health, Inc. $ELV

Avantax Advisory Services Inc. raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 9.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,752 shares of the company’s stock after buying an additional 1,694 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Elevance Health were worth $7,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Verdence Capital Advisors LLC raised its stake in shares of Elevance Health by 3.9% during the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after acquiring an additional 790 shares during the last quarter. World Investment Advisors raised its position in Elevance Health by 17.0% during the 2nd quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after purchasing an additional 3,988 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in Elevance Health by 11.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after buying an additional 817 shares during the period. Focus Partners Wealth grew its position in shares of Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after buying an additional 982 shares during the last quarter. Finally, Generate Investment Management Ltd increased its stake in shares of Elevance Health by 164.4% during the second quarter. Generate Investment Management Ltd now owns 98,052 shares of the company’s stock valued at $38,138,000 after buying an additional 60,963 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

ELV opened at $330.87 on Tuesday. The firm has a market cap of $73.53 billion, a PE ratio of 13.53, a P/E/G ratio of 1.23 and a beta of 0.60. The stock has a 50-day moving average price of $330.19 and a 200-day moving average price of $340.23. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same period last year, the business posted $8.37 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s payout ratio is 27.96%.

Analyst Ratings Changes

A number of brokerages recently commented on ELV. JPMorgan Chase & Co. raised their price target on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. UBS Group lowered their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Finally, Guggenheim upped their target price on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Hold” and a consensus target price of $397.33.

About Elevance Health

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.