Csenge Advisory Group acquired a new position in Elevance Health, Inc. (NYSE:ELV – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,726 shares of the company’s stock, valued at approximately $1,441,000.
A number of other large investors have also recently made changes to their positions in the business. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the period. Signet Financial Management LLC increased its position in shares of Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after buying an additional 28 shares during the period. Sapient Capital LLC increased its position in shares of Elevance Health by 1.2% during the first quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock valued at $765,000 after buying an additional 31 shares during the period. Mutual Advisors LLC raised its stake in Elevance Health by 1.4% in the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock worth $803,000 after buying an additional 32 shares in the last quarter. Finally, Waddell & Associates LLC raised its stake in Elevance Health by 2.6% in the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock worth $435,000 after buying an additional 32 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on ELV. TD Cowen boosted their target price on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Mizuho increased their price target on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Leerink Partners lifted their price target on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Bank of America boosted their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $440.90.
Elevance Health Trading Up 0.1%
Shares of Elevance Health stock opened at $398.53 on Thursday. The company has a market capitalization of $86.43 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company has a fifty day moving average of $394.87 and a 200 day moving average of $359.27. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24.
Elevance Health (NYSE:ELV – Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $8.84 EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 30.58%.
Insider Activity at Elevance Health
In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.
About Elevance Health
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.
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