Cetera Trust Company N.A Purchases New Position in Elevance Health, Inc. $ELV

Cetera Trust Company N.A acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,961 shares of the company's stock, valued at approximately $1,532,000.

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

Analyst Ratings Changes

Several analysts have recently commented on ELV shares. Guggenheim increased their target price on shares of Elevance Health from $399.00 to $455.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research report on Tuesday, July 7th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Bank of America lifted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Finally, Citigroup upgraded Elevance Health to a "buy" rating in a research note on Wednesday, April 29th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $440.90.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $402.62 on Tuesday. The company has a market capitalization of $87.32 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The company's 50-day moving average is $394.79 and its 200 day moving average is $360.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $8.84 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's payout ratio is 30.58%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company's stock in a transaction that occurred on 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 owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company's stock.

Elevance Health 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source