Dynamic Advisor Solutions LLC Cuts Stock Position in Elevance Health, Inc. $ELV

Dynamic Advisor Solutions LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,055 shares of the company’s stock after selling 1,979 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Elevance Health were worth $1,957,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ELV. WPG Advisers LLC purchased a new position in shares of Elevance Health in the 1st quarter worth about $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Elevance Health in the second quarter worth about $32,000. Glass Jacobson Investment Advisors llc lifted its stake in shares of Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares in the last quarter. Finally, Saudi Central Bank purchased a new stake in shares of Elevance Health during the first quarter valued at approximately $40,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $320.00 price objective (down from $332.00) on shares of Elevance Health in a report on Friday. Sanford C. Bernstein decreased their price target on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Wells Fargo & Company dropped their price objective on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group began coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $343.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $396.21.

Elevance Health Stock Down 1.3%

ELV stock opened at $340.27 on Friday. The business’s 50-day moving average is $334.55 and its two-hundred day moving average is $330.98. The company has a market cap of $75.62 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.58 and a beta of 0.52. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.37 EPS. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Elevance Health Profile

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.