ASR Vermogensbeheer N.V. Takes $11.26 Million Position in Elevance Health, Inc. (NYSE:ELV)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Elevance Health, Inc. valued at approximately $11.26 million, purchasing 25,886 shares during the first quarter.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health on July 18, increasing her ownership by 5.96%, with the total value of her stake now around $43.3 million.
• Recent analyst ratings show a mix of recommendations, with a consensus of "Moderate Buy" and a revised target price of $418.19 for Elevance Health shares.

ASR Vermogensbeheer N.V. acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,886 shares of the company's stock, valued at approximately $11,260,000.

Other institutional investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC raised its position in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health in the 4th quarter valued at about $25,000. Riverview Trust Co lifted its stake in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares during the period. North Capital Inc. purchased a new stake in Elevance Health during the first quarter worth about $36,000. Finally, Berbice Capital Management LLC acquired a new position in Elevance Health during the first quarter worth about $43,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was 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 owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Argus reissued a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. UBS Group reaffirmed a "buy" rating and set a $484.00 price target (down previously from $555.00) on shares of Elevance Health in a research note on Monday, July 14th. Truist Financial decreased their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company dropped their target price on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $418.19.

Elevance Health Stock Down 0.0%

Shares of NYSE ELV opened at $276.39 on Thursday. The firm has a market cap of $62.24 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.01 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $567.26. The firm's 50 day moving average price is $343.89 and its 200 day moving average price is $386.77.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $10.12 EPS. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

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.

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