Geneos Wealth Management Inc. Has $14.32 Million Position in Elevance Health, Inc. (NYSE:ELV)

Key Points

• Geneos Wealth Management Inc. increased its holdings in Elevance Health by 41.2%, owning 32,932 shares valued at approximately $14.32 million.
• Elevance Health's reported earnings per share of $8.84 missed analysts' estimates by $0.46, but the company's revenue for the quarter was $49.42 billion, exceeding expectations.
• The company announced a quarterly dividend of $1.71 per share, with an annual yield of 2.39%, set to be paid on September 25th.

Geneos Wealth Management Inc. grew its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 41.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,932 shares of the company's stock after buying an additional 9,610 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Elevance Health were worth $14,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ELV. Wellington Management Group LLP grew its stake in Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after buying an additional 1,893,947 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Elevance Health by 81,726.5% during the first 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 in the last quarter. D1 Capital Partners L.P. acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $294,751,000. Price T Rowe Associates Inc. MD lifted its position in shares of Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after purchasing an additional 464,137 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Elevance Health by 48.7% during the fourth quarter. First Trust Advisors LP now owns 1,267,396 shares of the company's stock worth $467,542,000 after purchasing an additional 414,989 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 2.9%

Elevance Health stock traded down $8.24 during mid-day trading on Friday, reaching $274.85. The company's stock had a trading volume of 1,968,074 shares, compared to its average volume of 1,928,350. The company has a market capitalization of $61.89 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $274.40 and a 12 month high of $567.26. The business's 50 day simple moving average is $351.82 and its 200 day simple moving average is $389.87. 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 announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS 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 firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period last year, the business earned $10.12 EPS. The business's revenue was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Leerink Partners restated a "market perform" rating and issued a $310.00 price objective (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Truist Financial cut their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Seven 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $418.19.

Insider Activity

In related news, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

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.