Ransom Advisory Ltd Makes New $522,000 Investment in Elevance Health, Inc. $ELV

Key Points

• Ransom Advisory Ltd has acquired 1,200 shares of Elevance Health, Inc. valued at approximately $522,000 in the first quarter of the year.
• Elevance Health recently announced a quarterly dividend of $1.71 per share, reflecting an annualized dividend yield of 2.2%.
• The company's CEO, Gail Boudreaux, purchased 8,500 shares of Elevance Health stock, increasing her ownership by nearly 6%.

Ransom Advisory Ltd bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,200 shares of the company's stock, valued at approximately $522,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CoreCap Advisors LLC lifted its stake in shares of Elevance Health by 289.4% in the 4th quarter. CoreCap Advisors LLC now owns 331 shares of the company's stock worth $122,000 after acquiring an additional 246 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Elevance Health by 8.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,815 shares of the company's stock worth $14,688,000 after purchasing an additional 2,991 shares in the last quarter. OMERS ADMINISTRATION Corp raised its holdings in Elevance Health by 0.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 310,424 shares of the company's stock worth $114,515,000 after purchasing an additional 1,581 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Elevance Health during the fourth quarter worth approximately $3,532,000. Finally, Numerai GP LLC bought a new stake in Elevance Health during the fourth quarter worth approximately $767,000. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In related news, Director Susan D. Devore bought 1,200 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction on Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Elevance Health Trading Down 1.0%

Shares of NYSE:ELV traded down $3.15 during mid-day trading on Friday, hitting $311.74. The stock had a trading volume of 1,503,234 shares, compared to its average volume of 2,082,560. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $70.20 billion, a PE ratio of 13.27, a P/E/G ratio of 1.15 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $559.95. The company's 50 day moving average is $306.50 and its 200-day moving average is $370.70.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $10.12 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is 29.11%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Barclays boosted their target price on Elevance Health from $327.00 to $373.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Leerink Partners restated a "market perform" rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $411.06.

Elevance Health 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.