Cambiar Investors LLC Raises Stake in Elevance Health, Inc. $ELV

Key Points

• Cambiar Investors LLC increased its stake in Elevance Health by 23.3%, owning 152,402 shares valued at approximately $66.29 million, marking it as the 3rd largest holding in their portfolio.
• The firm reported a miss in earnings per share for the last quarter at $8.84, compared to expectations of $9.30, despite a revenue increase of 14.3% year-over-year.
• Elevelance Health plans to pay a quarterly dividend of $1.71 per share on September 25th, representing an annualized dividend yield of 2.2%.

Cambiar Investors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,402 shares of the company's stock after buying an additional 28,752 shares during the quarter. Elevance Health makes up approximately 2.8% of Cambiar Investors LLC's investment portfolio, making the stock its 3rd largest position. Cambiar Investors LLC owned approximately 0.07% of Elevance Health worth $66,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at about $789,943,000. GAMMA Investing LLC grew its stake in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after buying an additional 1,472,712 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in shares of Elevance Health during the 4th quarter valued at $294,751,000. Vanguard Group Inc. lifted its holdings in shares of Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the last quarter. Finally, Boston Partners boosted its position in Elevance Health by 241.3% during the first quarter. Boston Partners now owns 856,737 shares of the company's stock valued at $372,039,000 after buying an additional 605,689 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 0.2%

Shares of NYSE:ELV traded down $0.5540 during trading on Thursday, hitting $309.4460. 1,554,878 shares of the company were exchanged, compared to its average volume of 1,973,537. The stock has a market capitalization of $69.68 billion, a P/E ratio of 13.17, a PEG ratio of 1.14 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $567.26. The firm's 50 day moving average price is $327.09 and its 200-day moving average price is $379.97.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $8.84 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 business had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter last year, the company earned $10.12 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health's dividend payout ratio (DPR) is 29.11%.

Insider Buying and Selling

In other news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health 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 acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ELV shares. Guggenheim decreased their price target on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Robert W. Baird dropped their price objective on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Leerink Partnrs downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, Argus reaffirmed a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $413.81.

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.