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

Centaurus Financial Inc. acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 291 shares of the company’s stock, valued at approximately $137,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanders Capital LLC grew its position in Elevance Health by 4.6% in the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after acquiring an additional 196,010 shares in the last quarter. Capital International Investors grew its position in Elevance Health by 7.9% in the 4th quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock valued at $1,591,237,000 after acquiring an additional 248,150 shares in the last quarter. Baillie Gifford & Co. grew its position in Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after acquiring an additional 27,986 shares in the last quarter. Norges Bank acquired a new position in Elevance Health in the 4th quarter valued at about $1,347,434,000. Finally, Morgan Stanley grew its position in Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after acquiring an additional 46,322 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was 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 owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Elevance Health Price Performance

Shares of NYSE ELV opened at $527.31 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 twelve month low of $412.00 and a twelve month high of $550.34. The stock has a 50 day moving average of $530.65 and a two-hundred day moving average of $506.05. The stock has a market cap of $122.56 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts forecast that Elevance Health, Inc. will post 37.2 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Ratings Changes

ELV has been the subject of several research reports. Jefferies Financial Group lifted their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Baird R W raised Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird initiated coverage on Elevance Health in a research report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price objective for the company. Finally, UBS Group boosted their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $607.36.

Elevance Health Company 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.