19,110 Shares in Elevance Health, Inc. $ELV Acquired by Clough Capital Partners L P

Key Points

• Clough Capital Partners acquired 19,110 shares of Elevance Health, Inc. (NYSE: ELV), valued at approximately $8,312,000, marking a significant investment by the firm.
• Major changes in stock ratings have occurred, with brokerages adjusting target prices and ratings for Elevance Health, leading to a current consensus rating of "Moderate Buy" with an average price target of $413.81.
• Elevance Health has declared a $1.71 quarterly dividend, translating to an annualized dividend yield of 2.2%, to be paid out on September 25th to investors of record.

Clough Capital Partners L P bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,110 shares of the company's stock, valued at approximately $8,312,000.

Several other institutional investors also recently bought and sold shares of the stock. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health in the first quarter valued at about $299,000. GAMMA Investing LLC grew its position in shares of Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Elevance Health by 185.7% in the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock valued at $1,341,000 after purchasing an additional 2,004 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Elevance Health by 15.7% in the first quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company's stock valued at $2,922,000 after purchasing an additional 913 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Elevance Health by 36.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock valued at $11,991,000 after purchasing an additional 7,410 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Susan D. Devore bought 1,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Price Performance

ELV traded down $2.44 during midday trading on Wednesday, reaching $319.90. 672,519 shares of the company's stock were exchanged, compared to its average volume of 1,965,256. The firm has a market capitalization of $72.03 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $562.11. The business has a 50-day simple moving average of $315.76 and a two-hundred day simple moving average of $374.86.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 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 the consensus estimate of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.12 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health's payout ratio is 29.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ELV shares. Truist Financial lowered their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lowered their price target on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Barclays decreased their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Finally, Leerink Partners reissued a "market perform" rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $413.81.

Elevance Health Company 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.