Roberts Glore & Co. Inc. IL purchased a new stake in Elevance Health, Inc. (NYSE:ELV – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,879 shares of the company’s stock, valued at approximately $727,000.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Elevance Health in the 2nd quarter valued at $7,344,424,000. Bank of New York Mellon Corp purchased a new position in Elevance Health during the 2nd quarter worth $1,246,349,000. Norges Bank purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $1,058,165,000. Legal & General Group Plc acquired a new stake in shares of Elevance Health during the second quarter worth about $688,469,000. Finally, Wellington Management Group LLP increased its position in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after acquiring an additional 1,668,679 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Bank of America raised their price target on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Finally, Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research note on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.
Insiders Place Their Bets
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.
Elevance Health Price Performance
Elevance Health stock opened at $398.64 on Wednesday. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $394.81 and its 200 day simple moving average is $360.90. The firm has a market capitalization of $86.45 billion, a PE ratio of 17.72, a P/E/G ratio of 2.31 and a beta of 0.68.
Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating 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 analyst estimates of $48.88 billion. During the same period in the prior year, the business earned $8.84 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.
Elevance Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is 30.58%.
Elevance Health Profile
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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