Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Cetera Advisors LLC

Cetera Advisors LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 90.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,335 shares of the company’s stock after buying an additional 5,372 shares during the quarter. Cetera Advisors LLC’s holdings in Elevance Health were worth $5,878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health during the 4th quarter worth approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health in the first quarter worth $28,000. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $31,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $32,000. Finally, Register Financial Advisors LLC bought a new position in shares of Elevance Health in the 1st quarter worth about $32,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ELV shares. Truist Financial upped their price target on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. UBS Group lifted their target price on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Buy” and a consensus price target of $604.29.

Elevance Health Trading Up 0.6 %

ELV stock traded up $2.94 during trading on Friday, hitting $535.17. The company had a trading volume of 874,644 shares, compared to its average volume of 1,331,405. The firm has a 50-day moving average price of $529.51 and a 200-day moving average price of $517.70. The stock has a market cap of $124.10 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. The company has a quick ratio of 1.49, a current 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 earnings per share for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.04 EPS. 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 will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was 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 of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $154,561.80. Following the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.