Bamco Inc. NY purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,000 shares of the company's stock, valued at approximately $1,934,000.
Several other large investors have also recently bought and sold shares of ELV. Stoneridge Investment Partners LLC acquired a new stake in Elevance Health during the second quarter worth approximately $970,000. Manning & Napier Advisors LLC increased its stake in Elevance Health by 1,423.1% during the fourth quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company's stock worth $129,152,000 after acquiring an additional 344,237 shares during the last quarter. State of Wyoming acquired a new stake in Elevance Health during the 2nd quarter worth approximately $1,765,000. Mawer Investment Management Ltd. grew its stake in Elevance Health by 10.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company's stock worth $72,597,000 after buying an additional 20,438 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Elevance Health by 7.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 79,811 shares of the company's stock valued at $30,865,000 after acquiring an additional 5,772 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.
Elevance Health Stock Performance
ELV opened at $399.17 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The firm has a market cap of $86.57 billion, a PE ratio of 17.74, a P/E/G ratio of 2.30 and a beta of 0.68. The business has a fifty day simple moving average of $395.23 and a 200-day simple moving average of $361.82.
Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping 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 firm had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. During the same period in the previous year, the company posted $8.84 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.
Elevance Health Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health's payout ratio is presently 30.58%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on ELV shares. Bank of America boosted their price target on Elevance Health from $435.00 to $460.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a "hold" rating to a "buy" rating and lifted their price target for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. UBS Group lifted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Guggenheim raised their target price on shares of Elevance Health from $399.00 to $455.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $395.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $440.90.
View Our Latest Analysis on ELV
Insider Buying and Selling
In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company's stock.
Elevance Health Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).
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