Elevance Health, Inc. $ELV Position Boosted by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp increased its Elevance Health stake by 255.3% in the first quarter, bringing its holdings to 30,100 shares valued at approximately $8.8 million. Institutional investors collectively own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, exceeding analyst expectations of $6.21, while revenue reached $49.83 billion. Analysts currently maintain a “Moderate Buy” consensus rating with an average price target of $440.90.
• The company declared a quarterly dividend of $1.72 per share, equivalent to an annualized $6.88 dividend and a 1.8% yield. Shares recently opened at $377.39, down slightly from the prior session.

OMERS ADMINISTRATION Corp raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 255.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,100 shares of the company's stock after acquiring an additional 21,628 shares during the period. OMERS ADMINISTRATION Corp's holdings in Elevance Health were worth $8,812,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health during the fourth quarter valued at $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health in the fourth quarter worth about $32,000. WealthCollab LLC grew its position in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after buying an additional 27 shares in the last quarter. ORG Partners LLC increased its stake in 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 buying an additional 59 shares during the period. Finally, Dorato Capital Management acquired a new position in Elevance Health during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Trading Down 0.1%

Elevance Health stock opened at $377.39 on Monday. The firm has a market cap of $81.84 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24. The firm's 50 day moving average price is $398.69 and its two-hundred day moving average price is $356.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts' consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during 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%.The company's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.84 EPS. On average, research analysts predict that Elevance Health, Inc. will post 27.04 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. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. Elevance Health's payout ratio is 30.58%.

Insider Activity at Elevance Health

In related 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 value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent analyst reports. Guggenheim increased their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Mizuho boosted their target price on Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Cantor Fitzgerald upped their target price on Elevance Health from $400.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Raymond James Financial set a $450.00 price target on Elevance Health in a research note on Tuesday, July 7th. Finally, Morgan Stanley boosted their price objective on Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $440.90.

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.

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