Csenge Advisory Group Has $1.26 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Csenge Advisory Group reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,410 shares of the company’s stock after selling 1,250 shares during the period. Csenge Advisory Group’s holdings in Elevance Health were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its stake in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC boosted its stake in shares of Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares during the period. Sanders Capital LLC lifted its stake in Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after purchasing an additional 44,805 shares during the last quarter. Wellington Management Group LLP lifted its stake in Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $389.58 on Monday. The firm has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The business has a 50-day simple moving average of $385.08 and a 200 day simple moving average of $448.71.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. Elevance Health’s payout ratio is presently 25.46%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Argus reiterated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $517.03.

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.