Csenge Advisory Group Makes New Investment in Elevance Health, Inc. $ELV

Csenge Advisory Group bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,726 shares of the company’s stock, valued at approximately $1,441,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. WealthCollab LLC boosted its stake in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Signet Financial Management LLC raised its stake in Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after buying an additional 28 shares during the last quarter. Sapient Capital LLC raised its stake in Elevance Health by 1.2% during the first quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock worth $765,000 after buying an additional 31 shares during the last quarter. Mutual Advisors LLC lifted its holdings in Elevance Health by 1.4% in the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock valued at $803,000 after buying an additional 32 shares during the period. Finally, Waddell & Associates LLC lifted its holdings in Elevance Health by 2.6% in the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock valued at $435,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. TD Cowen boosted their price target on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Citigroup upgraded Elevance Health to a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Finally, Cantor Fitzgerald lifted their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Activity

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $398.53 on Thursday. The business’s fifty day simple moving average is $394.87 and its 200 day simple moving average is $359.27. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The firm has a market capitalization of $86.43 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same period in the previous year, the company posted $8.84 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Announces Dividend

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

Elevance Health Company 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.