Jefferies Financial Group Inc. boosted its stake in Elevance Health, Inc. (NYSE:ELV – Free Report) by 24.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,619 shares of the company’s stock after purchasing an additional 34,972 shares during the quarter. Elevance Health comprises 0.5% of Jefferies Financial Group Inc.’s investment portfolio, making the stock its 22nd biggest position. Jefferies Financial Group Inc. owned 0.08% of Elevance Health worth $69,851,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently modified their holdings of ELV. BlackRock Inc. acquired a new stake in shares of Elevance Health during the second quarter valued at about $7,344,424,000. Wellington Management Group LLP lifted its holdings in Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after buying an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after acquiring an additional 455,946 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Elevance Health by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.
Insider Buying and Selling
In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
Elevance Health Stock Down 0.8%
Elevance Health (NYSE:ELV – Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) 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 firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, research analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.
Elevance Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is 30.58%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on ELV shares. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Truist Financial lifted their price target 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. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $440.90.
Get Our Latest Report 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.
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