Elevance Health, Inc. $ELV Stock Acquired by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board increased its Elevance Health stake by 39.1% in the third quarter, bringing its holdings to 9,203 shares valued at approximately $3.58 million. Institutional investors collectively own 89.24% of the company.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and eight Holds. Elevance Health has a “Moderate Buy” consensus rating and an average price target of $456.48.
• Elevance reported quarterly EPS of $6.99, well above the $4.71 consensus estimate, on revenue of $50.44 billion. The company also declared a quarterly dividend of $1.72 per share, representing a 1.7% annualized yield.

North Dakota State Investment Board boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 39.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,203 shares of the company's stock after purchasing an additional 2,588 shares during the quarter. North Dakota State Investment Board's holdings in Elevance Health were worth $3,578,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Field & Main Bank grew its holdings in Elevance Health by 1.3% in the 2nd quarter. Field & Main Bank now owns 1,883 shares of the company's stock valued at $728,000 after buying an additional 25 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Elevance Health by 1.3% during the third quarter. Simplicity Wealth LLC now owns 1,939 shares of the company's stock worth $754,000 after buying an additional 25 shares in the last quarter. Tranquilli Financial Advisor LLC lifted its holdings in shares of Elevance Health by 1.3% during the second quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company's stock worth $805,000 after buying an additional 26 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Elevance Health by 3.5% during the third quarter. Mather Group LLC. now owns 766 shares of the company's stock worth $298,000 after buying an additional 26 shares in the last quarter. Finally, 55 North Private Wealth LLC boosted its position in shares of Elevance Health by 4.5% in the third quarter. 55 North Private Wealth LLC now owns 598 shares of the company's stock valued at $233,000 after acquiring an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ELV. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research note on Tuesday, July 7th. Robert W. Baird raised their price target on shares of Elevance Health from $393.00 to $406.00 and gave the stock a "neutral" rating in a research report on Thursday, October 22nd. Barclays lifted their price objective on shares of Elevance Health from $469.00 to $472.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Elevance Health from $473.00 to $492.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, TD Cowen boosted their price objective on shares of Elevance Health from $465.00 to $495.00 and gave the company a "buy" rating in a report on Friday, October 23rd. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $456.48.

Elevance Health Price Performance

Elevance Health stock opened at $413.42 on Thursday. The stock's fifty day moving average price is $409.71 and its two-hundred day moving average price is $371.85. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $450.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $89.32 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.10 and a beta of 0.70.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $4.71 by $2.28. The firm had revenue of $50.44 billion during the quarter, compared to analysts' expectations of $49.28 billion. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company's quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.03 EPS. As a group, research analysts expect that Elevance Health, Inc. will post 29.15 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health's dividend payout ratio (DPR) is presently 29.34%.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 10,584 shares of the business's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the completion of the transaction, the chief financial officer owned 19,919 shares of the company's stock, valued at $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company's stock.

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.

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