Centiva Capital LP Buys 4,089 Shares of Elevance Health, Inc. (NYSE:ELV)

Centiva Capital LP lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 121.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,461 shares of the company’s stock after acquiring an additional 4,089 shares during the period. Centiva Capital LP’s holdings in Elevance Health were worth $3,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV boosted its stake in Elevance Health by 19.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,603 shares of the company’s stock worth $869,000 after buying an additional 256 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Elevance Health during the 2nd quarter valued at $156,000. Bank & Trust Co purchased a new position in Elevance Health in the 2nd quarter worth $27,000. Mather Group LLC. lifted its stake in Elevance Health by 19.8% in the second quarter. Mather Group LLC. now owns 400 shares of the company’s stock worth $207,000 after purchasing an additional 66 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in Elevance Health by 346.3% during the second quarter. Trust Co. of Vermont now owns 299 shares of the company’s stock valued at $162,000 after buying an additional 232 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV opened at $410.50 on Monday. The company has a 50-day simple moving average of $446.87 and a two-hundred day simple moving average of $504.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $95.20 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. Elevance Health, Inc. has a one year low of $391.02 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.99 EPS. On average, analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ELV. Morgan Stanley decreased their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. Barclays cut their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and set a $520.00 price target (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

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.