Liontrust Investment Partners LLP Purchases 5,915 Shares of Elevance Health, Inc. $ELV

Key Points

• Liontrust Investment Partners LLP has increased its stake in Elevance Health, Inc. by 24.8%, now owning 29,782 shares valued at approximately $12.95 million.
• Elevance Health reported $8.84 earnings per share (EPS) for the last quarter, missing the analyst consensus estimate of $9.30, but generated $49.42 billion in revenue, which exceeded expectations.
• A quarterly dividend of $1.71 per share has been announced, with an annualized yield of 2.3%, to be paid on September 25th.

Liontrust Investment Partners LLP raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 24.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,782 shares of the company's stock after buying an additional 5,915 shares during the quarter. Liontrust Investment Partners LLP's holdings in Elevance Health were worth $12,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ELV. Sagespring Wealth Partners LLC purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $258,000. CreativeOne Wealth LLC grew its stake in Elevance Health by 14.4% in the fourth quarter. CreativeOne Wealth LLC now owns 1,249 shares of the company's stock worth $461,000 after purchasing an additional 157 shares during the period. United Capital Financial Advisors LLC raised its holdings in Elevance Health by 103.0% in the fourth quarter. United Capital Financial Advisors LLC now owns 6,096 shares of the company's stock worth $2,249,000 after purchasing an additional 206,621 shares in the last quarter. Farringdon Capital Ltd. bought a new position in Elevance Health in the fourth quarter worth $310,000. Finally, Ally Financial Inc. lifted its position in Elevance Health by 200.0% during the fourth quarter. Ally Financial Inc. now owns 12,000 shares of the company's stock valued at $4,427,000 after buying an additional 8,000 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Leerink Partners reaffirmed a "market perform" rating and issued a $310.00 target price (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Morgan Stanley dropped their price target on Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Finally, Truist Financial cut their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $413.81.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $1.3310 during midday trading on Wednesday, reaching $310.6690. 2,134,644 shares of the company's stock traded hands, compared to its average volume of 2,721,708. 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, Inc. has a one year low of $273.71 and a one year high of $567.26. The company has a market cap of $69.96 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.14 and a beta of 0.58. The stock has a 50 day moving average of $327.09 and a 200 day moving average of $379.97.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.12 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS 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 given a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. Elevance Health's dividend payout ratio is 29.11%.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux bought 8,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

About Elevance Health

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.