Federation des caisses Desjardins du Quebec Has $63.24 Million Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Elevance Health by 92.8%, acquiring an additional 69,936 shares, bringing their total to 145,288 shares valued at $63.24 million as of the latest reporting period.
• Elevance Health reported a quarterly earnings per share (EPS) of $8.84, missing estimates of $9.30, but achieved revenues of $49.42 billion, exceeding the expected $48.26 billion and marking a 14.3% increase compared to the previous year.
• The company announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend of $6.84 and a dividend yield of 2.1%.

Federation des caisses Desjardins du Quebec grew its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 92.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,288 shares of the company's stock after buying an additional 69,936 shares during the period. Federation des caisses Desjardins du Quebec owned approximately 0.06% of Elevance Health worth $63,235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock worth $9,635,281,000 after buying an additional 666,534 shares during the last quarter. Orbis Allan Gray Ltd lifted its position in shares of Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company's stock worth $1,239,276,000 after purchasing an additional 680,228 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Elevance Health by 9.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company's stock worth $867,713,000 after purchasing an additional 199,550 shares during the last quarter. Invesco Ltd. lifted its position in shares of Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company's stock worth $920,501,000 after purchasing an additional 24,833 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Elevance Health by 1.5% during the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company's stock worth $845,394,000 after purchasing an additional 29,174 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ELV. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lowered their price target on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. UBS Group lowered their price target on Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Leerink Partners restated a "market perform" rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $411.06.

Elevance Health Price Performance

Shares of ELV stock traded up $5.74 during trading hours on Friday, hitting $313.79. The company had a trading volume of 1,861,540 shares, compared to its average volume of 2,037,073. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $559.95. The firm has a market capitalization of $70.66 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.13 and a beta of 0.59. The firm's fifty day moving average is $312.04 and its 200 day moving average is $373.45. 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 (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share 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 company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the prior year, the company posted $10.12 earnings per share. The company's revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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 issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's payout ratio is presently 29.11%.

Insider Activity at Elevance Health

In other Elevance Health 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 cost of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by 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.