Bahl & Gaynor LLC Makes New Investment in Elevance Health, Inc. $ELV

Key Points

• Bahl & Gaynor acquired 156,908 Elevance Health shares in the third quarter, valued at about $61 million and representing 0.07% of the company.
• Elevance reported quarterly EPS of $6.99, above the $4.71 consensus estimate, and revenue of $50.44 billion, also topping expectations. Revenue increased 0.7% year over year.
• Analysts’ average rating is “Moderate Buy,” with an average price target of $456.48; Elevance also declared a quarterly dividend of $1.72 per share.

Bahl & Gaynor LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 156,908 shares of the company's stock, valued at approximately $61,009,000. Bahl & Gaynor LLC owned 0.07% of Elevance Health as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Field & Main Bank lifted its holdings in Elevance Health by 1.3% in the 2nd quarter. Field & Main Bank now owns 1,883 shares of the company's stock valued at $728,000 after acquiring an additional 25 shares during the last quarter. Simplicity Wealth LLC raised its holdings in shares of Elevance Health by 1.3% in the 3rd quarter. Simplicity Wealth LLC now owns 1,939 shares of the company's stock worth $754,000 after purchasing an additional 25 shares in the last quarter. Tranquilli Financial Advisor LLC raised its holdings in shares of Elevance Health by 1.3% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company's stock worth $805,000 after purchasing an additional 26 shares in the last quarter. Mather Group LLC. lifted its stake in Elevance Health by 3.5% during the third quarter. Mather Group LLC. now owns 766 shares of the company's stock valued at $298,000 after purchasing an additional 26 shares during the last quarter. Finally, 55 North Private Wealth LLC lifted its stake in Elevance Health by 4.5% during the third quarter. 55 North Private Wealth LLC now owns 598 shares of the company's stock valued at $233,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of Elevance Health from $404.00 to $449.00 and gave the stock an "equal weight" rating in a report on Thursday, October 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Elevance Health in a report on Thursday, August 13th. Royal Bank Of Canada increased their price objective on Elevance Health from $424.00 to $455.00 and gave the company a "sector perform" rating in a research report on Thursday, October 22nd. UBS Group raised their price objective on Elevance Health from $460.00 to $523.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Finally, Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Saturday. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $456.48.

Elevance Health Price Performance

Shares of ELV opened at $429.48 on Wednesday. The business's 50-day moving average is $414.10 and its 200-day moving average is $374.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market capitalization of $92.79 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 2.00 and a beta of 0.63. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $450.69.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, beating analysts' consensus estimates of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The firm had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. During the same period in the previous year, the firm posted $6.03 earnings per share. The firm's revenue was up .7% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 29.15 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health's dividend payout ratio is 29.34%.

Insider Buying and Selling at Elevance Health

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 value of $572,000.00. Following the transaction, the executive vice president owned 14,849 shares in the company, valued at $6,533,560. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Kaye sold 10,584 shares of the company's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the completion of the transaction, the chief financial officer directly owned 19,919 shares in the company, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is currently owned by company insiders.

Elevance Health Profile

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.

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