Lbp Am Sa Purchases New Holdings in Elevance Health, Inc. (NYSE:ELV)

Lbp Am Sa acquired a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,914 shares of the company's stock, valued at approximately $1,267,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock worth $7,926,028,000 after purchasing an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after buying an additional 464,137 shares in the last quarter. Wellington Management Group LLP boosted its position in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after buying an additional 1,893,947 shares during the period. Geode Capital Management LLC grew its stake in Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after acquiring an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC increased its position in shares of Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after acquiring an additional 76,896 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Elevance Health Stock Down 0.3%

ELV stock opened at $345.31 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 52 week low of $339.39 and a 52 week high of $567.26. The stock has a market capitalization of $78.02 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. The firm has a 50 day moving average of $382.27 and a 200 day moving average of $397.62.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELV. Guggenheim reissued a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Barclays cut their price objective on shares of Elevance Health from $480.00 to $434.00 and set an "overweight" rating on the stock in a report on Wednesday. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $495.80.

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.

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