Moran Wealth Management LLC Reduces Holdings in Elevance Health, Inc. $ELV

Moran Wealth Management LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 34.8% in the 3rd quarter, Holdings Channel reports. The fund owned 12,677 shares of the company’s stock after selling 6,755 shares during the quarter. Moran Wealth Management LLC’s holdings in Elevance Health were worth $4,096,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Nilsine Partners LLC lifted its holdings in Elevance Health by 1.5% during the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after purchasing an additional 29 shares during the last quarter. Regatta Capital Group LLC lifted its stake in shares of Elevance Health by 3.0% during the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after buying an additional 30 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in Elevance Health by 4.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after buying an additional 31 shares during the period. Accurate Wealth Management LLC grew its stake in 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 buying an additional 33 shares in the last quarter. Finally, Retirement Guys Formula LLC grew its stake in Elevance Health by 0.9% in the 2nd quarter. Retirement Guys Formula LLC now owns 4,204 shares of the company’s stock valued at $1,635,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of several recent research reports. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $320.00 price objective (down from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. Morgan Stanley reduced their target price on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Robert W. Baird upped their price target on Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $400.20.

Elevance Health Stock Up 2.2%

Shares of NYSE:ELV opened at $374.85 on Friday. The firm has a market capitalization of $83.31 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.89 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The firm has a fifty day moving average of $337.08 and a 200 day moving average of $328.63.

Elevance Health (NYSE:ELV) last issued its quarterly 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 return on equity of 16.17% and a net margin of 2.84%.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 previous year, the company posted $8.37 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid 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 1.8%. Elevance Health’s dividend payout ratio is currently 27.96%.

Elevance Health Company 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.