AustralianSuper Pty Ltd Purchases 1,947 Shares of Elevance Health, Inc. (NYSE:ELV)

AustralianSuper Pty Ltd raised its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 18.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,256 shares of the company's stock after acquiring an additional 1,947 shares during the quarter. AustralianSuper Pty Ltd's holdings in Elevance Health were worth $5,331,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ELV. Accredited Wealth Management LLC bought a new stake in Elevance Health during the 4th quarter valued at approximately $25,000. Private Wealth Management Group LLC grew its holdings in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after buying an additional 38 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the 4th quarter valued at approximately $29,000. Lee Danner & Bass Inc. purchased a new position in Elevance Health during the 4th quarter valued at approximately $30,000. Finally, Riverview Trust Co grew its holdings in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after buying an additional 67 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other news, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Trading Down 8.5%

NYSE:ELV opened at $276.87 on Friday. The firm has a market cap of $62.55 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.81 and a beta of 0.60. The stock has a fifty day moving average price of $371.52 and a 200 day moving average price of $395.81. Elevance Health, Inc. has a 12-month low of $276.41 and a 12-month high of $567.26. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion for 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 firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $10.12 earnings per share. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's payout ratio is 29.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group reiterated a "buy" rating and issued a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Leerink Partnrs cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday. Wells Fargo & Company dropped their price objective on Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Morgan Stanley dropped their price objective on Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a report on Friday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $435.93.

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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