Certuity LLC Buys New Stake in Elevance Health, Inc. (NYSE:ELV)

Certuity LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 581 shares of the company’s stock, valued at approximately $274,000.

Other large investors have also made changes to their positions in the company. Cozad Asset Management Inc. increased its position in Elevance Health by 3.6% during the 4th quarter. Cozad Asset Management Inc. now owns 753 shares of the company’s stock valued at $355,000 after buying an additional 26 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Elevance Health by 12.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,774 shares of the company’s stock valued at $3,194,000 after acquiring an additional 773 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Elevance Health by 2.2% in the 4th quarter. Van ECK Associates Corp now owns 11,289 shares of the company’s stock valued at $5,323,000 after purchasing an additional 245 shares during the last quarter. Intrust Bank NA boosted its stake in Elevance Health by 8.5% in the 4th quarter. Intrust Bank NA now owns 4,896 shares of the company’s stock worth $2,309,000 after purchasing an additional 382 shares in the last quarter. Finally, Greatmark Investment Partners Inc. grew its position in Elevance Health by 8.3% during the 4th quarter. Greatmark Investment Partners Inc. now owns 18,490 shares of the company’s stock worth $8,719,000 after purchasing an additional 1,416 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

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

Elevance Health Stock Performance

Shares of ELV stock opened at $524.84 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The business’s 50 day moving average is $513.01 and its two-hundred day moving average is $488.20. The company has a market capitalization of $121.98 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping 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 net margin of 3.64% and a return on equity of 20.62%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.46 EPS. Analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analyst Ratings Changes

A number of research firms have issued reports on ELV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Truist Financial reiterated a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Mizuho increased their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their price objective on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Barclays upped their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $587.42.

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.