Hunter Perkins Capital Management LLC Increases Stake in Elevance Health, Inc. $ELV

Hunter Perkins Capital Management LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 24.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,312 shares of the company's stock after purchasing an additional 2,961 shares during the period. Elevance Health accounts for 1.4% of Hunter Perkins Capital Management LLC's holdings, making the stock its 23rd biggest holding. Hunter Perkins Capital Management LLC's holdings in Elevance Health were worth $5,956,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ELV. Private Wealth Management Group LLC lifted its holdings in shares of 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 buying an additional 38 shares during the period. WPG Advisers LLC purchased a new position in Elevance Health in the first quarter worth approximately $29,000. North Capital Inc. purchased a new position in Elevance Health during the first quarter worth about $36,000. Saudi Central Bank acquired a new position in Elevance Health during the 1st quarter worth about $40,000. Finally, Berbice Capital Management LLC purchased a new position in Elevance Health in the first quarter valued at $43,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer directly 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the purchase, 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 currently owned by corporate insiders.

Elevance Health Price Performance

NYSE ELV opened at $351.11 on Monday. The stock has a market cap of $79.06 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $510.24. The business has a 50 day simple moving average of $307.98 and a 200 day simple moving average of $360.68. 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 return on equity of 17.59% and a net margin of 2.83%.The business had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the prior year, the firm earned $10.12 EPS. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, September 10th. Elevance Health's dividend payout ratio is currently 29.11%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Leerink Partners reissued a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Guggenheim reduced 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. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Argus reissued a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Finally, Wells Fargo & Company dropped their price target on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average price target of $411.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.