Elevance Health, Inc. (NYSE:ELV) Shares Bought by Foundry Partners LLC

Foundry Partners LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 29.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,778 shares of the company's stock after acquiring an additional 8,458 shares during the period. Foundry Partners LLC's holdings in Elevance Health were worth $15,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after acquiring an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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. Wellington Management Group LLP grew its position in shares of Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after acquiring an additional 1,893,947 shares during the period. Geode Capital Management LLC grew its position in shares of Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after acquiring an additional 115,971 shares during the period. Finally, Sanders Capital LLC grew its position in shares of Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after acquiring an additional 76,896 shares during the period. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Guggenheim dropped their target price on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Argus set a $465.00 target price on shares of Elevance Health in a report on Friday, April 25th. Finally, Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $435.93.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Elevance Health Trading Down 8.5%

Shares of NYSE:ELV traded down $25.58 during trading on Friday, reaching $276.87. 8,379,827 shares of the company were exchanged, compared to its average volume of 1,672,342. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.43. The business's fifty day simple moving average is $371.52 and its 200-day simple moving average is $395.81. Elevance Health, Inc. has a 12-month low of $276.41 and a 12-month high of $567.26. The firm has a market capitalization of $62.55 billion, a PE ratio of 11.78, a P/E/G ratio of 0.81 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.12 earnings per share. On average, research analysts anticipate 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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Elevance Health Company 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.