Cetera Investment Advisers Has $28.40 Million Holdings in Elevance Health, Inc. $ELV

Cetera Investment Advisers raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 19.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 97,014 shares of the company’s stock after buying an additional 16,058 shares during the period. Cetera Investment Advisers’ holdings in Elevance Health were worth $28,401,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ELV. WealthCollab LLC raised its holdings in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares during the period. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health in the 4th quarter worth approximately $32,000. ORG Partners LLC grew its position in Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Elevance Health during the 4th quarter worth approximately $38,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.1%

Shares of NYSE:ELV opened at $377.39 on Monday. The firm has a fifty day moving average of $398.69 and a two-hundred day moving average of $356.47. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24. The firm has a market capitalization of $81.84 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.

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

Elevance Health Dividend Announcement

The company also recently announced 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. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated 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 directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ELV. Mizuho increased their target price on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Morgan Stanley upped their price target on Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Company Profile

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.