Certuity LLC Has $269,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Certuity LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 728 shares of the company’s stock after purchasing an additional 56 shares during the period. Certuity LLC’s holdings in Elevance Health were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its position in shares of Elevance Health by 50.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock worth $1,024,000 after buying an additional 664 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Elevance Health by 1.8% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company’s stock worth $1,215,000 after buying an additional 41 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Elevance Health by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company’s stock worth $1,177,000 after buying an additional 61 shares in the last quarter. Tamar Securities LLC lifted its position in shares of Elevance Health by 14.0% during the 3rd quarter. Tamar Securities LLC now owns 31,372 shares of the company’s stock worth $16,314,000 after buying an additional 3,842 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its position in shares of Elevance Health by 1.6% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 109,062 shares of the company’s stock worth $56,712,000 after buying an additional 1,733 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. TD Cowen lowered their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. UBS Group lowered their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Morgan Stanley lowered their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 1.6 %

Elevance Health stock opened at $391.68 on Friday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a market capitalization of $90.84 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a 50 day simple moving average of $384.96 and a 200 day simple moving average of $450.70.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is 25.46%.

About Elevance Health

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.