Versor Investments LP Takes Position in Elevance Health, Inc. $ELV

Key Points

• Versor Investments LP acquired 2,499 shares of Elevance Health, valued at approximately $1,087,000, during the first quarter.
• Elevance Health reported $8.84 earnings per share for the last quarter, missing estimates by $0.46, despite revenue increasing by 14.3% year-over-year.
• The company recently declared a quarterly dividend of $1.71 per share, with a dividend yield of 2.2% and a payout ratio of 29.11%.

Versor Investments LP acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,499 shares of the company's stock, valued at approximately $1,087,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Mill Creek Capital Advisors LLC bought a new stake in Elevance Health during the 1st quarter valued at about $212,000. Affinity Investment Advisors LLC boosted its holdings in shares of Elevance Health by 19.6% during the 1st quarter. Affinity Investment Advisors LLC now owns 1,264 shares of the company's stock valued at $550,000 after acquiring an additional 207 shares during the last quarter. CacheTech Inc. boosted its holdings in shares of Elevance Health by 26.1% during the 1st quarter. CacheTech Inc. now owns 1,001 shares of the company's stock valued at $434,000 after acquiring an additional 207 shares during the last quarter. Seven Mile Advisory purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $287,000. Finally, Cambiar Investors LLC boosted its holdings in shares of Elevance Health by 23.3% during the 1st quarter. Cambiar Investors LLC now owns 152,402 shares of the company's stock valued at $66,289,000 after acquiring an additional 28,752 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on ELV shares. Leerink Partners reaffirmed a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Leerink Partnrs downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Guggenheim dropped their price target on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Finally, Truist Financial dropped their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $413.81.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $6.2370 during trading on Friday, hitting $315.8370. The company's stock had a trading volume of 2,950,811 shares, compared to its average volume of 1,979,869. The company has a 50-day moving average of $325.56 and a 200-day moving average of $379.31. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $71.12 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.14 and a beta of 0.58.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (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 return on equity of 17.59% and a net margin of 2.83%.The company's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $10.12 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Insider Activity at Elevance Health

In other news, Director Susan D. Devore acquired 1,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly 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. Corporate insiders own 0.29% of the company's stock.

About Elevance Health

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.