UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $1.16 Billion Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• UBS Asset Management increased its holdings in Elevance Health by 13.8%, owning approximately 2.68 million shares worth about $1.16 billion at the end of the most recent quarter.
• The company declared a quarterly dividend of $1.71 per share, representing a 2.2% yield with a payout ratio of 29.11%.
• Elevance Health's recent quarterly earnings report revealed earnings per share of $8.84, which missed predictions by $0.46, while revenue surpassed expectations at $49.42 billion.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,676,203 shares of the company's stock after acquiring an additional 324,040 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.18% of Elevance Health worth $1,164,041,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Woodline Partners LP grew its position in shares of Elevance Health by 5,305.8% in the 1st quarter. Woodline Partners LP now owns 131,036 shares of the company's stock worth $56,995,000 after acquiring an additional 128,612 shares in the last quarter. American Trust grew its position in shares of Elevance Health by 12.4% in the 1st quarter. American Trust now owns 627 shares of the company's stock worth $273,000 after acquiring an additional 69 shares in the last quarter. HFM Investment Advisors LLC acquired a new position in shares of Elevance Health in the 1st quarter worth approximately $103,000. MBB Public Markets I LLC acquired a new position in shares of Elevance Health in the 1st quarter worth approximately $320,000. Finally, Ascent Group LLC grew its position in shares of Elevance Health by 8.0% in the 1st quarter. Ascent Group LLC now owns 6,759 shares of the company's stock worth $2,940,000 after acquiring an additional 501 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In other news, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The shares were bought 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 owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan D. Devore acquired 1,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Elevance Health stock traded down $3.15 during mid-day trading on Friday, hitting $311.74. 1,503,234 shares of the company's stock traded hands, compared to its average volume of 2,082,560. The firm has a 50 day moving average price of $306.50 and a 200 day moving average price of $370.70. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market cap of $70.20 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $559.95.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.83% and a return on equity of 17.59%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.12 EPS. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's payout ratio is currently 29.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ELV shares. Argus reiterated a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Robert W. Baird reduced their price objective on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Guggenheim reduced their price objective on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Barclays boosted their price objective on Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Finally, Wells Fargo & Company reduced their price objective on Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, August 15th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $411.06.

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.