Caisse DE Depot ET Placement DU Quebec Has $123.99 Million Holdings in Elevance Health, Inc. $ELV

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Elevance Health, Inc. by 2.4% during Q1, holding 285,067 shares valued at approximately $123.99 million.
• Elevance Health reported earnings per share of $8.84 for the last quarter, missing the consensus estimate by $0.46, but showed a 14.3% year-over-year revenue increase.
• The company declared a quarterly dividend of $1.71 per share, with a dividend yield of 2.2% and a payout ratio of 29.11%.

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 285,067 shares of the company's stock after purchasing an additional 6,707 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.13% of Elevance Health worth $123,993,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ELV. Integrated Wealth Concepts LLC lifted its holdings in shares of Elevance Health by 7.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,045 shares of the company's stock worth $1,492,000 after purchasing an additional 289 shares during the period. Northern Trust Corp lifted its holdings in shares of Elevance Health by 16.5% during the fourth quarter. Northern Trust Corp now owns 2,449,028 shares of the company's stock worth $903,446,000 after purchasing an additional 346,557 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Elevance Health by 19.5% during the fourth quarter. AQR Capital Management LLC now owns 418,636 shares of the company's stock worth $154,435,000 after purchasing an additional 68,392 shares during the period. Utah Retirement Systems lifted its holdings in shares of Elevance Health by 0.5% during the fourth quarter. Utah Retirement Systems now owns 38,650 shares of the company's stock worth $14,258,000 after purchasing an additional 200 shares during the period. Finally, Voleon Capital Management LP acquired a new position in Elevance Health in the fourth quarter valued at $2,668,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $315.8370 on Monday. The firm's 50-day moving average price is $324.18 and its 200-day moving average price is $378.47. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $567.26. The firm has a market capitalization of $71.12 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.16 and a beta of 0.58. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the company posted $10.12 EPS. Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health's dividend payout ratio is currently 29.11%.

Analyst Ratings Changes

Several research firms recently issued reports on ELV. Guggenheim dropped their target price on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Robert W. Baird dropped their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Argus restated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $413.81.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan D. Devore bought 1,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares of the company's stock, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Profile

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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