Dimensional Fund Advisors LP Has $780.69 Million Position in Elevance Health, Inc. $ELV

Key Points

• Dimensional Fund Advisors LP reduced its stake in Elevance Health, Inc. by 4.0%, selling 74,591 shares, which leaves it with approximately 1.79 million shares valued at $780.7 million.
• Elevance Health reported earnings of $8.84 EPS for the last quarter, missing analysts' expectations, but generated revenue of $49.42 billion, surpassing estimates.
• The company announced a quarterly dividend of $1.71 per share, which translates to an annualized dividend yield of 2.3%, set to be paid on September 25th to shareholders on record by September 10th.

Dimensional Fund Advisors LP lowered its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,794,952 shares of the company's stock after selling 74,591 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.79% of Elevance Health worth $780,686,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after buying an additional 666,534 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after buying an additional 464,137 shares in the last quarter. Capital International Investors lifted its stake in shares of Elevance Health by 0.9% in the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company's stock valued at $1,431,559,000 after acquiring an additional 35,576 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Elevance Health by 16.5% during the 4th quarter. Northern Trust Corp now owns 2,449,028 shares of the company's stock valued at $903,446,000 after acquiring an additional 346,557 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Elevance Health by 9.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company's stock worth $867,713,000 after acquiring an additional 199,550 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. JPMorgan Chase & Co. cut their target price on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Guggenheim reduced 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. Finally, Leerink Partners restated a "market perform" rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. 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 MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $413.81.

Elevance Health Trading Down 0.4%

Shares of NYSE:ELV traded down $1.3310 during trading on Wednesday, reaching $310.6690. The stock had a trading volume of 2,134,644 shares, compared to its average volume of 2,721,708. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm's fifty day moving average is $327.09 and its 200 day moving average is $379.97. The stock has a market cap of $69.96 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.14 and a beta of 0.58.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) 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 firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the previous year, the firm earned $10.12 EPS. Elevance Health's quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's payout ratio is presently 29.11%.

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.