Cerity Partners LLC Sells 1,594 Shares of Elevance Health, Inc. (NYSE:ELV)

Cerity Partners LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,065 shares of the company’s stock after selling 1,594 shares during the period. Cerity Partners LLC’s holdings in Elevance Health were worth $24,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in Elevance Health by 5.7% during the fourth quarter. Russell Investments Group Ltd. now owns 535,194 shares of the company’s stock valued at $197,429,000 after purchasing an additional 29,012 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Elevance Health by 18.8% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,000,660 shares of the company’s stock valued at $738,044,000 after buying an additional 316,002 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Elevance Health during the 4th quarter valued at approximately $44,000. Resona Asset Management Co. Ltd. purchased a new stake in Elevance Health in the 4th quarter worth approximately $28,164,000. Finally, Islay Capital Management LLC raised its stake in Elevance Health by 1,550.4% during the 4th quarter. Islay Capital Management LLC now owns 2,096 shares of the company’s stock worth $773,000 after acquiring an additional 1,969 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELV has been the subject of a number of recent analyst reports. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Price Performance

ELV stock opened at $430.48 on Wednesday. The stock has a market cap of $97.45 billion, a PE ratio of 16.81, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a 50-day moving average price of $410.03 and a 200 day moving average price of $415.05. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last released its 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 return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid 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 1.59%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s payout ratio is currently 26.71%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Company 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.