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

Dynamic Advisor Solutions LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,157 shares of the company’s stock after selling 1,295 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Elevance Health were worth $2,381,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health in the 4th quarter worth $32,000. WealthCollab LLC boosted its holdings in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Elevance Health in the fourth quarter worth $38,000. Finally, Flagship Harbor Advisors LLC purchased a new position in Elevance Health during the 4th quarter worth $44,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV opened at $394.27 on Friday. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The stock has a market cap of $85.51 billion, a P/E ratio of 17.52, a PEG ratio of 2.25 and a beta of 0.68. The company has a 50-day moving average of $396.55 and a two-hundred day moving average of $357.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $8.84 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Insider Activity

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Guggenheim upped their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Evercore reiterated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. UBS Group upped their target price on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group lowered their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

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.