Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Elevance Health, Inc. by 5.1%, owning a total of 51,844 shares valued at approximately $22.55 million.
• The company's recently declared quarterly dividend will be $1.71 per share, resulting in an annualized yield of 2.33%.
• Elevance Health reported earnings per share of $8.84 for the last quarter, missing estimates, but experienced a revenue increase of 14.3% year-over-year.

Mackenzie Financial Corp boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,844 shares of the company's stock after buying an additional 2,538 shares during the period. Mackenzie Financial Corp's holdings in Elevance Health were worth $22,550,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $25,000. Private Wealth Management Group LLC raised its position in Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Riverview Trust Co lifted its holdings in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Elevance Health in the first quarter valued at approximately $36,000. Finally, Orion Capital Management LLC purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Leerink Partners reissued a "market perform" rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Mizuho lifted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company dropped their target price on Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and an average price target of $418.19.

Elevance Health Stock Down 3.2%

Shares of ELV stock traded down $8.98 during trading hours on Friday, reaching $274.10. The company had a trading volume of 3,380,911 shares, compared to its average volume of 3,027,049. The company has a market capitalization of $61.72 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a twelve month low of $273.84 and a twelve month high of $567.26. The stock's fifty day simple moving average is $351.82 and its 200 day simple moving average is $389.87.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data 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 period last year, the business earned $10.12 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.5%. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

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.