Ashton Thomas Private Wealth LLC Sells 2,365 Shares of Elevance Health, Inc. $ELV

Ashton Thomas Private Wealth LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 79.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 622 shares of the company’s stock after selling 2,365 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Elevance Health were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. grew its stake in Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares during the period. Activest Wealth Management lifted its position in Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 34 shares during the period. Vermillion & White Wealth Management Group LLC lifted its position in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in Elevance Health in the second quarter worth about $32,000. Finally, Motco increased its stake in shares of Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $325.61 on Wednesday. The company has a 50-day moving average price of $351.86 and a 200-day moving average price of $331.28. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $71.87 billion, a P/E ratio of 12.96, a PEG ratio of 1.82 and a beta of 0.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The business had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.1%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 27.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $332.00 price target on shares of Elevance Health in a report on Thursday, January 29th. Morgan Stanley dropped their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Leerink Partners raised their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada downgraded shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target for the company. in a research report on Tuesday, February 3rd. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.55.

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.