Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 19.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 64,659 shares of the company’s stock after purchasing an additional 10,678 shares during the period. Cerity Partners LLC’s holdings in Elevance Health were worth $33,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Pathway Financial Advisers LLC grew its holdings in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the period. International Assets Investment Management LLC grew its stake in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares during the period. Maj Invest Holding A S acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $173,753,000. Finally, First Eagle Investment Management LLC raised its position in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent analyst reports. Cantor Fitzgerald cut their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Trading Down 0.3 %

NYSE ELV opened at $402.55 on Monday. Elevance Health, Inc. has a 52 week low of $391.02 and a 52 week high of $567.26. The firm has a 50 day moving average of $460.70 and a two-hundred day moving average of $508.84. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $93.36 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85.

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

Elevance Health Dividend Announcement

The firm 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 dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

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.