Dimensional Fund Advisors LP Raises Stock Position in Elevance Health, Inc. $ELV

Key Points

• Dimensional Fund Advisors increased its Elevance Health stake by 8.5% in Q1, adding 128,995 shares to bring its total to 1.65 million shares worth about $481.7 million.
• Elevance Health beat quarterly expectations, reporting $7.45 EPS versus $6.21 expected and revenue of $49.83 billion, while analysts still see full-year EPS of 27.08.
• The company also announced a quarterly dividend of $1.72 per share, equal to an annualized yield of 1.8%, and Wall Street’s consensus rating remains Moderate Buy with an average target price of $440.90.

Dimensional Fund Advisors LP grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,645,787 shares of the company's stock after buying an additional 128,995 shares during the quarter. Dimensional Fund Advisors LP owned 0.76% of Elevance Health worth $481,683,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the 4th quarter worth approximately $32,000. ORG Partners LLC increased its position in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after purchasing an additional 59 shares during the last quarter. Dorato Capital Management bought a new position in shares of Elevance Health during the 4th quarter valued at approximately $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Elevance Health during the 4th quarter valued at $38,000. Institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company's stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELV. Morgan Stanley raised their price target on Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. Barclays cut their price objective on shares of Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Evercore reissued a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. Weiss Ratings upgraded shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Finally, Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $440.90.

Elevance Health Trading Up 2.3%

NYSE ELV opened at $381.82 on Tuesday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.10 and a beta of 0.67. The company's 50-day simple moving average is $399.56 and its two-hundred day simple moving average is $355.63.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion during the quarter, compared to analysts' expectations of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 EPS. The company's revenue was up .8% compared to the same quarter last year. Equities analysts forecast that Elevance Health, Inc. will post 27.08 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health's dividend payout ratio is currently 30.58%.

Elevance Health Profile

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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.