Callan Family Office LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV – Free Report) in the second quarter, HoldingsChannel reports. The firm purchased 4,118 shares of the company’s stock, valued at approximately $1,593,000.
A number of other hedge funds have also made changes to their positions in ELV. Stoneridge Investment Partners LLC acquired a new stake in shares of Elevance Health in the second quarter valued at $970,000. Manning & Napier Advisors LLC boosted its stake in Elevance Health by 1,423.1% during the fourth quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company’s stock valued at $129,152,000 after buying an additional 344,237 shares in the last quarter. State of Wyoming acquired a new position in Elevance Health during the second quarter worth about $1,765,000. Mawer Investment Management Ltd. grew its holdings in Elevance Health by 10.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company’s stock worth $72,597,000 after acquiring an additional 20,438 shares during the period. Finally, Handelsbanken Fonder AB raised its position in Elevance Health by 7.8% in the second quarter. Handelsbanken Fonder AB now owns 79,811 shares of the company’s stock worth $30,865,000 after acquiring an additional 5,772 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.
Insiders Place Their Bets
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.
Elevance Health Price Performance
Elevance Health (NYSE:ELV – Get Free Report) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the firm posted $8.84 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current year.
Elevance Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Guggenheim lifted their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Truist Financial boosted their target price on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Robert W. Baird increased their target price on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Mizuho raised their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $440.90.
Read Our Latest Stock Analysis on Elevance Health
About Elevance Health
Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.
Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.
Read More
- Five stocks we like better than Elevance Health
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).
Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.
