Elevance Health, Inc. $ELV Stake Boosted by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,670 shares of the company’s stock after purchasing an additional 2,810 shares during the quarter. Elevance Health comprises about 1.1% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 17th biggest position. University of Texas Texas AM Investment Management Co.’s holdings in Elevance Health were worth $6,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GLOBALT Investments LLC GA lifted its position in shares of Elevance Health by 0.4% during the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after purchasing an additional 24 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management boosted its stake in Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after buying an additional 27 shares in the last quarter. Aspen Investment Management Inc boosted its position in shares of Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after acquiring an additional 27 shares in the last quarter. Finally, Prudent Man Advisors LLC lifted its stake in Elevance Health by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock worth $547,000 after purchasing an additional 28 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.1%

Elevance Health stock opened at $342.45 on Friday. The company’s 50 day simple moving average is $327.09 and its 200 day simple moving average is $352.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.44. The firm has a market capitalization of $76.11 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.25 and a beta of 0.59. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $8.37 earnings per share. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ELV shares. Robert W. Baird reduced their target price on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. JPMorgan Chase & Co. lowered their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research note on Tuesday, July 22nd. Sanford C. Bernstein reduced their price target on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Mizuho raised their price objective on shares of Elevance Health from $342.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, Bank of America upped their target price on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $397.89.

Insider Activity at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

About Elevance Health

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.