Bailard Inc. Grows Holdings in Elevance Health, Inc. $ELV

Bailard Inc. raised its stake in Elevance Health, Inc. (NYSE:ELV) by 79.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,214 shares of the company’s stock after buying an additional 1,421 shares during the period. Bailard Inc.’s holdings in Elevance Health were worth $1,250,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GLOBALT Investments LLC GA increased its stake in Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after acquiring an additional 24 shares during the last quarter. Hemington Wealth Management increased its position in shares of Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after purchasing an additional 27 shares during the last quarter. Aspen Investment Management Inc raised its holdings 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 buying an additional 27 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of Elevance Health by 5.3% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after buying an additional 30 shares in the last quarter. Finally, Regatta Capital Group LLC lifted its position in Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after buying an additional 30 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Susan D. Devore bought 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased 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 in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 0.2%

Shares of NYSE:ELV opened at $328.16 on Friday. The stock’s 50-day moving average is $329.49 and its 200 day moving average is $342.44. The company has a market cap of $72.93 billion, a PE ratio of 13.42, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio is 27.96%.

Analyst Upgrades and Downgrades

Several research firms have commented on ELV. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. UBS Group reduced their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Weiss Ratings downgraded shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Cowen restated a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Finally, Barclays decreased their price objective on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $397.33.

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.