Atria Wealth Solutions Inc. Has $2.09 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Atria Wealth Solutions Inc. raised its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 8.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,794 shares of the company’s stock after acquiring an additional 365 shares during the period. Atria Wealth Solutions Inc.’s holdings in Elevance Health were worth $2,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BDO Wealth Advisors LLC grew its position in Elevance Health by 266.7% during the second quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock worth $25,000 after buying an additional 40 shares in the last quarter. OFI Invest Asset Management bought a new stake in Elevance Health during the third quarter worth about $25,000. Fortis Capital Advisors LLC bought a new stake in Elevance Health during the fourth quarter worth about $29,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Elevance Health during the third quarter worth about $30,000. Finally, TD Capital Management LLC bought a new stake in Elevance Health during the fourth quarter worth about $30,000. 87.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Trading Up 0.8 %

NYSE ELV opened at $506.08 on Friday. The stock has a 50-day moving average of $478.95 and a 200-day moving average of $464.67. The firm has a market cap of $118.93 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $506.82.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.23 EPS. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.14 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be given a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. Elevance Health’s dividend payout ratio is presently 23.52%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ELV. Morgan Stanley lifted their price target on Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $547.00 price target on shares of Elevance Health in a research note on Friday, February 2nd. JPMorgan Chase & Co. dropped their price target on Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. Finally, Royal Bank of Canada boosted their target price on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $564.60.

View Our Latest Research Report on ELV

About Elevance Health

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

See Also

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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