Gateway Investment Advisers LLC Acquires 230 Shares of Elevance Health, Inc. (NYSE:ELV)

Gateway Investment Advisers LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 99,427 shares of the company’s stock after purchasing an additional 230 shares during the period. Gateway Investment Advisers LLC’s holdings in Elevance Health were worth $43,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Money Concepts Capital Corp grew its holdings in Elevance Health by 9.0% during the fourth quarter. Money Concepts Capital Corp now owns 1,764 shares of the company’s stock worth $651,000 after buying an additional 146 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in Elevance Health during the 4th quarter worth $219,000. Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health in the 4th quarter worth $21,232,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Elevance Health by 5.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,579 shares of the company’s stock worth $10,912,000 after acquiring an additional 1,569 shares in the last quarter. Finally, BSN CAPITAL PARTNERS Ltd purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $80,396,000. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, 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. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ELV has been the topic of several analyst reports. Robert W. Baird restated a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Barclays reduced their price target on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $499.53.

Elevance Health Trading Up 2.4%

NYSE:ELV opened at $393.70 on Friday. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The stock’s fifty day moving average price is $409.50 and its two-hundred day moving average price is $400.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market cap of $88.95 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.74%. Elevance Health’s dividend payout ratio (DPR) is currently 26.69%.

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.