Natixis Advisors LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 34.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 165,544 shares of the company's stock after acquiring an additional 42,114 shares during the quarter. Natixis Advisors LLC owned about 0.07% of Elevance Health worth $72,005,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Milestone Asset Management LLC increased its holdings in shares of Elevance Health by 2.2% in the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after acquiring an additional 24 shares during the last quarter. GLOBALT Investments LLC GA boosted its position 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 purchasing an additional 24 shares during the period. Elser Financial Planning Inc boosted its position in shares of Elevance Health by 3.0% in the 1st 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 period. Checchi Capital Advisers LLC boosted its position in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after purchasing an additional 27 shares during the period. Finally, Prudent Man Advisors LLC boosted its position in shares of Elevance Health by 2.3% in 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 period. Hedge funds and other institutional investors own 89.24% of the company's stock.
Elevance Health Price Performance
NYSE ELV traded up $3.94 during mid-day trading on Monday, hitting $278.60. The stock had a trading volume of 1,223,728 shares, compared to its average volume of 1,933,733. Elevance Health, Inc. has a 52-week low of $273.84 and a 52-week high of $567.26. The company has a market cap of $62.73 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.01 and a beta of 0.58. The company has a 50 day simple moving average of $349.86 and a 200 day simple moving average of $389.08. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $48.26 billion. During the same period in the previous year, the business earned $10.12 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.5%. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.
Wall Street Analyst Weigh In
ELV has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Wells Fargo & Company decreased their target price on Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. UBS Group reissued a "buy" rating and issued a $484.00 target price (down from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Leerink Partners reaffirmed a "market perform" rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Barclays decreased their price objective on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $418.19.
Check Out Our Latest Stock Analysis on Elevance Health
Insiders Place Their Bets
In related news, CEO Gail Boudreaux purchased 8,500 shares of the company's stock in a transaction on Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company's stock.
About Elevance Health
(
Free Report)
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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