Natixis Advisors LLC Acquires 42,114 Shares of Elevance Health, Inc. (NYSE:ELV)

Key Points

• Natixis Advisors LLC increased its stake in Elevance Health by 34.1%, now owning 165,544 shares valued at approximately $72 million as of the latest filing.
• The CEO, Gail Boudreaux, purchased 8,500 shares, raising her ownership by 5.96% to 151,020 shares valued around $43 million.
• Elevance Health announced a quarterly dividend of $1.71 per share, reflecting an annualized yield of 2.33%, set to be paid on September 25th.

Natixis Advisors LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,544 shares of the company's stock after purchasing an additional 42,114 shares during the period. Natixis Advisors LLC owned about 0.07% of Elevance Health worth $72,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Milestone Asset Management LLC boosted its position in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after purchasing an additional 24 shares during the period. GLOBALT Investments LLC GA raised its holdings in shares of Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc lifted its position in Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after purchasing an additional 26 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after acquiring an additional 27 shares in the last quarter. Finally, Prudent Man Advisors LLC increased its position in shares of Elevance Health by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company's stock valued at $547,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ELV shares. Leerink Partnrs cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Barclays dropped their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Robert W. Baird dropped their target price on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. JPMorgan Chase & Co. dropped their price objective on Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Finally, Mizuho increased their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $418.19.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Elevance Health Stock Down 3.2%

Shares of ELV traded down $8.98 on Friday, reaching $274.10. The stock had a trading volume of 3,380,911 shares, compared to its average volume of 3,027,049. The firm has a market capitalization of $61.72 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50-day simple moving average of $349.86 and a 200-day simple moving average of $389.05. Elevance Health, Inc. has a 12-month low of $273.84 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.12 EPS. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid 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 2.5%. Elevance Health's payout ratio is presently 29.11%.

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.