Elevance Health, Inc. (NYSE:ELV) Position Lifted by Seizert Capital Partners LLC

Key Points

• Seizert Capital Partners LLC increased its holdings in Elevance Health by 2.7%, making it the firm's 7th largest position, with approximately 133,776 shares valued at $58.2 million.
• CEO Gail Boudreaux purchased 8,500 shares for about $2.44 million, raising her total holdings to 151,020 shares, which reflects a 5.96% increase.
• Elevance Health reported $8.84 EPS for the last quarter, missing estimates and showing a revenue increase of 14.3% year-over-year, with analysts projecting an annual EPS of 33.96.

Seizert Capital Partners LLC lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,776 shares of the company's stock after purchasing an additional 3,514 shares during the period. Elevance Health accounts for about 2.7% of Seizert Capital Partners LLC's investment portfolio, making the stock its 7th biggest holding. Seizert Capital Partners LLC owned about 0.06% of Elevance Health worth $58,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. GAMMA Investing LLC lifted its position in shares of Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after purchasing an additional 1,472,712 shares during the period. D1 Capital Partners L.P. purchased a new position in Elevance Health during the 4th quarter valued at about $294,751,000. Price T Rowe Associates Inc. MD lifted its position in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after acquiring an additional 464,137 shares during the period. First Trust Advisors LP raised its holdings in Elevance Health by 48.7% in the fourth quarter. First Trust Advisors LP now owns 1,267,396 shares of the company's stock worth $467,542,000 after buying an additional 414,989 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Elevance Health by 247.7% in the fourth quarter. Two Sigma Investments LP now owns 501,494 shares of the company's stock worth $185,001,000 after buying an additional 357,257 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ELV. Barclays reduced their price target on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Robert W. Baird dropped their price target on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Finally, Leerink Partners reiterated 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. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and an average target price of $418.19.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $8.98 during midday trading on Friday, reaching $274.10. 3,380,911 shares of the company were exchanged, compared to its average volume of 1,939,330. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The business's fifty day moving average is $351.82 and its two-hundred day moving average is $389.87. Elevance Health, Inc. has a one year low of $273.84 and a one year high of $567.26. The stock has a market cap of $61.72 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.08 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The company had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the prior year, the company posted $10.12 EPS. Elevance Health's revenue was up 14.3% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company 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 $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.5%. Elevance Health's dividend payout ratio is currently 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.