Roberts Glore & Co. Inc. IL Increases Stake in Elevance Health, Inc. $ELV

Roberts Glore & Co. Inc. IL grew its stake in Elevance Health, Inc. (NYSE:ELV) by 20.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,809 shares of the company’s stock after buying an additional 484 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Elevance Health were worth $1,093,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC increased its holdings in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the period. WPG Advisers LLC purchased a new stake in Elevance Health in the first quarter valued at approximately $29,000. Glass Jacobson Investment Advisors llc increased its holdings in Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares during the period. Saudi Central Bank purchased a new position in Elevance Health during the 1st quarter worth approximately $40,000. Finally, Berbice Capital Management LLC acquired a new stake in Elevance Health during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $317.51 on Friday. The firm has a market cap of $70.56 billion, a PE ratio of 12.98, a P/E/G ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $329.41 and a 200 day moving average price of $344.86.

Elevance Health (NYSE:ELV) last announced 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. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same period in the prior year, the company posted $8.37 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts predict 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 Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Analysts Set New Price Targets

ELV has been the subject of several recent research reports. Barclays reduced their target price on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. TD Cowen boosted their price objective on Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Bank of America raised their target price on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday. Twelve equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $397.33.

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.