Ceredex Value Advisors LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 127,071 shares of the company's stock, valued at approximately $49,142,000. Elevance Health comprises approximately 1.4% of Ceredex Value Advisors LLC's holdings, making the stock its 5th largest holding. Ceredex Value Advisors LLC owned 0.06% of Elevance Health as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. BlackRock Inc. acquired a new stake in shares of Elevance Health in the 2nd quarter worth approximately $7,344,424,000. Wellington Management Group LLP increased its stake in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock valued at $2,906,051,000 after acquiring an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Elevance Health by 27.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company's stock valued at $2,610,261,000 after acquiring an additional 1,607,274 shares during the period. Artisan Partners Limited Partnership raised its holdings in Elevance Health by 10.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company's stock worth $1,764,231,000 after purchasing an additional 455,946 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company's stock worth $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. Institutional investors own 89.24% of the company's stock.
Insider Buying and Selling at Elevance Health
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 completion of the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.
Elevance Health Stock Performance
Shares of Elevance Health stock opened at $397.15 on Friday. The stock has a market cap of $86.13 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The business has a fifty day simple moving average of $394.82 and a 200-day simple moving average of $359.63. 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 12 month low of $274.84 and a 12 month high of $436.24.
Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts' consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.84 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.
Elevance Health Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's payout ratio is 30.58%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Elevance Health from $331.00 to $393.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. JPMorgan Chase & Co. lifted their target price on Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Leerink Partners boosted their price target on shares of Elevance Health from $364.00 to $395.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Royal Bank Of Canada cut their price target on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating for the company in a report on Thursday, July 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $440.90.
Read Our Latest Research Report on ELV
About Elevance Health
(
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.
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