Focus Partners Advisor Solutions LLC Sells 1,311 Shares of Elevance Health, Inc. $ELV

Focus Partners Advisor Solutions LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 50.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,301 shares of the company’s stock after selling 1,311 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Elevance Health were worth $504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Wealth Management Group LLC boosted its position in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC bought a new position in shares of Elevance Health during the 1st quarter valued at approximately $29,000. North Capital Inc. bought a new position in shares of Elevance Health during the 1st quarter valued at approximately $36,000. Glass Jacobson Investment Advisors llc boosted its position in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 80 shares during the last quarter. Finally, Saudi Central Bank bought a new position in shares of Elevance Health during the 1st quarter valued at approximately $40,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV stock opened at $336.41 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $328.79 and its two-hundred day simple moving average is $350.22. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The firm has a market cap of $74.76 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.24 and a beta of 0.59.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $49.26 billion. During the same quarter last year, the firm posted $8.37 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. Analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

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 paid a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Guggenheim raised their price target on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Argus restated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Finally, Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $398.44.

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.