Dynamic Advisor Solutions LLC Sells 56 Shares of Elevance Health, Inc. (NYSE:ELV)

Dynamic Advisor Solutions LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,178 shares of the company’s stock after selling 56 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Elevance Health were worth $3,213,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Bell Investment Advisors Inc increased its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after acquiring an additional 20 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. lifted its position in shares of Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after buying an additional 20 shares during the last quarter. American Trust boosted its holdings in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in shares of Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after buying an additional 21 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $489.47 on Wednesday. The stock has a market cap of $113.76 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 12 month low of $435.99 and a 12 month high of $567.26. The company has a 50 day simple moving average of $535.11 and a two-hundred day simple moving average of $529.75. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $9.04 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America reissued a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Stephens reissued an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a research report on Thursday, September 5th. Truist Financial upped their target price on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Company lowered their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $604.29.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is owned by company insiders.

About Elevance Health

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.