Centaurus Financial Inc. Raises Holdings in Elevance Health, Inc. (NYSE:ELV)

Centaurus Financial Inc. increased its position in Elevance Health, Inc. (NYSE:ELV) by 60.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,477 shares of the company’s stock after buying an additional 559 shares during the period. Centaurus Financial Inc.’s holdings in Elevance Health were worth $768,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in shares of Elevance Health during the second quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health during the 2nd quarter worth approximately $28,000. PSI Advisors LLC purchased a new position in shares of Elevance Health in the 3rd quarter valued at approximately $27,000. Eastern Bank acquired a new position in shares of Elevance Health in the third quarter valued at approximately $31,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health during the third quarter worth approximately $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on ELV. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada dropped 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. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued 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.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $539.20.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $407.59 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $94.53 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. The firm has a 50-day moving average price of $457.79 and a two-hundred day moving average price of $507.92. Elevance Health, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the business earned $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

About Elevance Health

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.