Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Regatta Capital Group LLC

Regatta Capital Group LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 13.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,011 shares of the company’s stock after purchasing an additional 123 shares during the period. Regatta Capital Group LLC’s holdings in Elevance Health were worth $440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Elevance Health in the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP boosted its stake in Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. GAMMA Investing LLC grew its position in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock worth $641,355,000 after purchasing an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Elevance Health by 6,817.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock valued at $335,254,000 after buying an additional 895,658 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ELV. Barclays decreased their price objective on Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a report on Monday, June 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Truist Financial raised their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $499.53.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $393.70 on Monday. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The stock has a market capitalization of $88.95 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.18 and a beta of 0.60. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $409.50 and its 200 day simple moving average is $400.80.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% 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.