Atria Wealth Solutions Inc. Grows Holdings in Elevance Health, Inc. (NYSE:ELV)

Atria Wealth Solutions Inc. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,928 shares of the company’s stock after purchasing an additional 134 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Elevance Health were worth $2,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ELV. OFI Invest Asset Management bought a new position in Elevance Health in the 3rd quarter worth about $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health during the 4th quarter worth $31,000. ORG Partners LLC purchased a new position in Elevance Health during the 4th quarter worth $40,000. Orion Capital Management LLC bought a new stake in Elevance Health during the 3rd quarter valued at $46,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Elevance Health in the 3rd quarter worth $51,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 0.6 %

Elevance Health stock opened at $533.89 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $124.09 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The stock has a 50-day moving average of $512.32 and a two-hundred day moving average of $487.42. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $9.46 EPS. On average, research analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ELV shares. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Truist Financial restated a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group increased their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health 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.