Simplicity Wealth LLC Sells 22,607 Shares of Elevance Health, Inc. (NYSE:ELV)

Simplicity Wealth LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 90.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,300 shares of the company’s stock after selling 22,607 shares during the quarter. Simplicity Wealth LLC’s holdings in Elevance Health were worth $1,196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Elevance Health by 45.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 27,836 shares of the company’s stock valued at $14,473,000 after buying an additional 8,754 shares during the last quarter. Independence Bank of Kentucky raised its holdings in Elevance Health by 44.3% during the 3rd quarter. Independence Bank of Kentucky now owns 1,303 shares of the company’s stock valued at $678,000 after buying an additional 400 shares during the last quarter. Boston Common Asset Management LLC bought a new stake in Elevance Health during the 3rd quarter valued at $6,286,000. Steigerwald Gordon & Koch Inc. raised its holdings in Elevance Health by 2.0% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 43,231 shares of the company’s stock valued at $22,480,000 after buying an additional 862 shares during the last quarter. Finally, Cypress Wealth Services LLC raised its holdings in Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after buying an additional 23 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 2.0 %

NYSE:ELV opened at $501.88 on Friday. The firm’s 50-day moving average price is $531.94 and its 200-day moving average price is $529.09. The company has a market capitalization of $116.65 billion, a PE ratio of 18.97, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 1-year low of $435.99 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the prior year, the firm posted $9.04 EPS. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed 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 1.30%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a report on Tuesday, October 1st. Barclays boosted their price objective on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research report on Thursday. Stephens reissued an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research report on Thursday, September 5th. Bank of America reissued a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Finally, Truist Financial boosted their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health has an average rating of “Buy” and a consensus target price of $605.07.

Insider Activity at Elevance Health

In related 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 approximately $4,926,213.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the company’s 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 transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is owned by insiders.

Elevance Health Profile

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.