Baillie Gifford & Co. Has $1 Billion Holdings in Elevance Health, Inc. (NYSE:ELV)

Key Points

• Baillie Gifford & Co. reduced its stake in Elevance Health by 7.4% to own approximately 2.3 million shares worth about $1 billion.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health for approximately $2.44 million, increasing her holdings to 151,020 shares.
• Analysts have varied opinions on Elevance Health, with target prices ranging from $310.00 to $505.00, and a consensus rating of "Moderate Buy."

Baillie Gifford & Co. cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,303,038 shares of the company's stock after selling 184,346 shares during the period. Elevance Health comprises approximately 0.9% of Baillie Gifford & Co.'s holdings, making the stock its 25th largest holding. Baillie Gifford & Co. owned approximately 1.02% of Elevance Health worth $1,001,729,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ELV. Accredited Wealth Management LLC acquired a new stake in Elevance Health in the 4th quarter valued at about $25,000. Private Wealth Management Group LLC increased its position in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in Elevance Health in the 4th quarter valued at about $29,000. Riverview Trust Co increased its position in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. Finally, North Capital Inc. acquired a new stake in Elevance Health in the 1st quarter valued at about $36,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 1.4%

Elevance Health stock traded up $3.93 during midday trading on Tuesday, hitting $289.91. 1,500,698 shares of the stock were exchanged, compared to its average volume of 1,909,914. The company has a fifty day simple moving average of $358.44 and a two-hundred day simple moving average of $392.05. Elevance Health, Inc. has a 52 week low of $274.40 and a 52 week high of $567.26. The stock has a market capitalization of $65.28 billion, a PE ratio of 12.33, a P/E/G ratio of 1.06 and a beta of 0.60. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly 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 net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the previous year, the firm posted $10.12 EPS. The business's quarterly revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders 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 yield of 2.36%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's payout ratio is currently 29.11%.

Insiders Place Their Bets

In related news, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction on Friday, July 18th. The shares were purchased 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. This represents a 5.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ELV shares. Mizuho raised their price objective 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. Guggenheim lowered their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Morgan Stanley reduced their target price on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Finally, Robert W. Baird reduced their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and an average price target of $418.19.

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.