Cetera Trust Company N.A Acquires Shares of 3,961 Elevance Health, Inc. $ELV

Cetera Trust Company N.A bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, Holdings Channel.com reports. The firm bought 3,961 shares of the company’s stock, valued at approximately $1,532,000.

Other large investors have also recently modified their holdings of the company. WealthCollab LLC lifted its stake in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Kilter Group LLC bought a new position in Elevance Health in the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in Elevance Health in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health in the 4th quarter valued at approximately $32,000. Finally, Main Street Group LTD bought a new stake in Elevance Health during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at $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 available through this hyperlink. 0.34% of the stock is currently owned by insiders.

Elevance Health Stock Performance

NYSE ELV opened at $402.62 on Tuesday. The company’s 50 day simple moving average is $394.79 and its two-hundred day simple moving average is $360.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The stock has a market capitalization of $87.32 billion, a PE ratio of 17.89, a P/E/G ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $8.84 EPS. Analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Analysts Set New Price Targets

Several research firms have issued reports on ELV. Barclays dropped their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Mizuho increased their price objective on Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a research note on Thursday, July 16th. Finally, Leerink Partners lifted their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $440.90.

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.