Los Angeles Capital Management LLC Increases Position in Elevance Health, Inc. $ELV

Los Angeles Capital Management LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 354.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,156 shares of the company’s stock after buying an additional 4,022 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Elevance Health were worth $2,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. GLOBALT Investments LLC GA grew its holdings in Elevance Health by 0.4% in the first 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 period. Hemington Wealth Management boosted its stake in shares of Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after acquiring an additional 27 shares during the last quarter. Aspen Investment Management Inc increased its position in Elevance Health by 2.6% in the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after buying an additional 27 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in shares of Elevance Health by 5.3% during the first 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 during the last quarter. Finally, Regatta Capital Group LLC lifted its stake 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 purchasing an additional 30 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $315.06 on Wednesday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The firm has a market cap of $70.02 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. 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 company’s 50 day moving average is $328.95 and its two-hundred day moving average is $342.64.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period in the prior year, the company posted $8.37 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS 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. 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 dividend on an annualized basis and a yield of 2.2%. Elevance Health’s payout ratio is currently 27.96%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were purchased 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 approximately $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ELV shares. JPMorgan Chase & Co. lifted their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Mizuho lowered their target price on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Sanford C. Bernstein cut their price target on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Finally, Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.