Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 60.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,477 shares of the company’s stock after acquiring an additional 559 shares during the period. Centaurus Financial Inc.’s holdings in Elevance Health were worth $768,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Waverly Advisors LLC boosted its stake in Elevance Health by 19.8% during the first quarter. Waverly Advisors LLC now owns 2,873 shares of the company’s stock worth $1,490,000 after buying an additional 474 shares during the last quarter. Bayesian Capital Management LP increased its position in Elevance Health by 164.5% during the first quarter. Bayesian Capital Management LP now owns 2,510 shares of the company’s stock worth $1,302,000 after purchasing an additional 1,561 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Elevance Health during the first quarter worth about $3,309,000. B. Riley Wealth Advisors Inc. boosted its holdings in Elevance Health by 6.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,855 shares of the company’s stock valued at $1,480,000 after purchasing an additional 172 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in shares of Elevance Health by 24.9% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,520 shares of the company’s stock valued at $1,825,000 after buying an additional 701 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays lowered their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Truist Financial restated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. UBS Group lowered their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Price Performance

Shares of NYSE ELV opened at $407.59 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $94.53 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. The stock’s 50-day moving average is $457.79 and its two-hundred day moving average is $507.92. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the business earned $8.99 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.60%. Elevance Health’s payout ratio is currently 23.77%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate 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.