Elevance Health, Inc. $ELV Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,014 shares of the company’s stock after buying an additional 16,058 shares during the quarter. Cetera Investment Advisers’ holdings in Elevance Health were worth $28,401,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after purchasing an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Elevance Health by 27.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after purchasing an additional 455,946 shares during the period. First Eagle Investment Management LLC grew its position in Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after buying an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. grew its position in Elevance Health by 50.3% in the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after buying an additional 1,306,390 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup upgraded shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Truist Financial increased their price objective on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group boosted their target price on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Stock Performance

NYSE:ELV opened at $377.39 on Monday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average of $398.69 and a 200-day moving average of $356.47. The firm has a market cap of $81.84 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the previous year, the company posted $8.84 EPS. The business’s revenue was up .8% compared to the same quarter last year. Analysts forecast that Elevance Health, Inc. will post 27.04 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health’s payout ratio is 30.58%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This 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. Corporate insiders own 0.34% of the company’s stock.

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.