Leuthold Group LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 19.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,732 shares of the company's stock after purchasing an additional 3,428 shares during the quarter. Leuthold Group LLC's holdings in Elevance Health were worth $8,061,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Fulcrum Asset Management LLP boosted its stake in Elevance Health by 458.3% during the 3rd quarter. Fulcrum Asset Management LLP now owns 5,633 shares of the company's stock valued at $2,212,000 after purchasing an additional 4,624 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Elevance Health by 11.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,415 shares of the company's stock worth $4,357,000 after purchasing an additional 1,203 shares during the last quarter. StoneRidge PMG Advisors LLC purchased a new position in shares of Elevance Health in the third quarter worth $908,000. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of Elevance Health by 12.0% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 374 shares of the company's stock valued at $145,000 after purchasing an additional 40 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new position in shares of Elevance Health during the third quarter valued at $305,000. 89.24% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Elevance Health news, EVP Ratnakar Lavu sold 1,300 shares of the business's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $440.00, for a total transaction of $572,000.00. Following the completion of the sale, the executive vice president directly owned 14,849 shares in the company, valued at $6,533,560. The trade was a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Kaye sold 10,584 shares of the company's stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares of the company's stock, valued at $8,766,949.47. The trade was a 34.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.34% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ELV. Mizuho set a $490.00 price objective on Elevance Health in a research report on Friday, October 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Elevance Health in a research report on Thursday, August 13th. Truist Financial upped their target price on shares of Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Robert W. Baird upped their target price on shares of Elevance Health from $393.00 to $406.00 and gave the company a "neutral" rating in a research note on Thursday, October 22nd. Finally, Barclays raised their price target on shares of Elevance Health from $469.00 to $472.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $456.48.
View Our Latest Stock Analysis on Elevance Health
Elevance Health Price Performance
Shares of ELV opened at $417.73 on Tuesday. The firm has a fifty day simple moving average of $413.37 and a two-hundred day simple moving average of $373.82. The firm has a market cap of $90.26 billion, a PE ratio of 17.81, a P/E/G ratio of 2.07 and a beta of 0.63. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $450.69.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The firm had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. During the same period last year, the business posted $6.03 EPS. The company's revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 29.15 EPS for the current year.
Elevance Health Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health's dividend payout ratio (DPR) is presently 29.34%.
About Elevance Health
(
Free Report)
Elevance Health, Inc is a U.S. health benefits and services company. Formerly known as Anthem, Inc, it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans.
The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.
Elevance Health operates primarily in the United States, with health plans serving members across multiple states and access to broader provider networks through its Blue Cross Blue Shield affiliations.
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