Patriot Financial Group Insurance Agency LLC Sells 2,030 Shares of Elevance Health, Inc. $ELV

Patriot Financial Group Insurance Agency LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 31.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,462 shares of the company’s stock after selling 2,030 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Elevance Health were worth $1,442,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Aspen Investment Management Inc raised its stake in Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after buying an additional 27 shares during the last quarter. Nilsine Partners LLC grew its holdings in Elevance Health by 1.5% during the 3rd quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after acquiring an additional 29 shares during the period. Regatta Capital Group LLC raised its position in shares of Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after acquiring an additional 30 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Elevance Health by 1.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after acquiring an additional 32 shares in the last quarter. Finally, Accurate Wealth Management LLC lifted its stake in shares of Elevance Health by 4.9% in the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after purchasing an additional 33 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ELV. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Sanford C. Bernstein lowered their price objective on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Barclays reduced their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $320.00 price objective (down previously from $332.00) on shares of Elevance Health in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $396.21.

Elevance Health Stock Down 1.3%

ELV stock opened at $340.27 on Friday. 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 firm has a market capitalization of $75.62 billion, a PE ratio of 13.91, a P/E/G ratio of 1.59 and a beta of 0.52. The stock’s 50 day moving average is $334.55 and its 200-day moving average is $331.31. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the prior year, the business posted $8.37 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s payout ratio is currently 27.96%.

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.