Certuity LLC Purchases Shares of 581 Elevance Health, Inc. (NYSE:ELV)

Certuity LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 581 shares of the company’s stock, valued at approximately $274,000.

A number of other large investors also recently modified their holdings of ELV. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $25,000. Alaska Permanent Fund Corp bought a new stake in Elevance Health during the fourth quarter worth $31,000. ORG Partners LLC bought a new stake in Elevance Health during the fourth quarter worth $40,000. Orion Capital Management LLC purchased a new position in Elevance Health in the third quarter worth $46,000. Finally, Milestone Investment Advisors LLC bought a new position in Elevance Health in the 3rd quarter valued at $51,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Mizuho lifted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada upped their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Stock Down 0.7 %

Shares of NYSE:ELV opened at $524.84 on Thursday. The company has a market cap of $121.98 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.18 and a beta of 0.78. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07. The firm has a fifty day moving average price of $513.01 and a two-hundred day moving average price of $488.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $9.46 earnings per share. Analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is owned by company 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.