Centaurus Financial Inc. Purchases Shares of 291 Elevance Health, Inc. (NYSE:ELV)

Centaurus Financial Inc. purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 291 shares of the company’s stock, valued at approximately $137,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELV. Norges Bank bought a new stake in Elevance Health in the 4th quarter valued at $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Elevance Health in the 4th quarter worth $467,141,000. Canoe Financial LP grew its stake in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after buying an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC purchased a new position in shares of Elevance Health in the 4th quarter worth $239,244,000. Finally, International Assets Investment Management LLC grew its stake in shares of Elevance Health by 45,888.1% in the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after buying an additional 255,138 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ELV shares. Bank of America lifted their price objective on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Robert W. Baird started coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective for the company. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada lifted their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $607.36.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were 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 directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Down 1.3 %

Shares of Elevance Health stock opened at $527.31 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34. The firm’s 50-day moving average is $530.65 and its two-hundred day moving average is $506.05. The stock has a market cap of $122.56 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.18 and a beta of 0.83.

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

Elevance Health Announces Dividend

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

Elevance Health 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.