OMERS ADMINISTRATION Corp Makes New $26.10 Million Investment in Elevance Health, Inc. $ELV

Key Points

• OMERS Administration Corp. acquired 67,483 Elevance Health shares during the second quarter, valued at approximately $26.1 million. Institutional investors own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, exceeding analyst expectations of $6.21, while revenue reached $49.83 billion versus the $48.88 billion consensus estimate.
• The company declared a quarterly dividend of $1.72 per share, equivalent to an annualized $6.88 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $440.90.

OMERS ADMINISTRATION Corp purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 67,483 shares of the company's stock, valued at approximately $26,098,000.

Several other large investors have also recently made changes to their positions in the business. Kilter Group LLC purchased a new position in Elevance Health in the 2nd quarter worth $28,000. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health during the fourth quarter valued at about $32,000. WealthCollab LLC boosted its position in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after buying an additional 27 shares during the period. Finally, Elevation Wealth Partners LLC grew its stake in shares of Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock valued at $41,000 after buying an additional 90 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.0%

ELV opened at $400.66 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The stock has a market cap of $86.89 billion, a PE ratio of 17.81, a PEG ratio of 2.29 and a beta of 0.68. The business has a 50 day moving average of $394.76 and a 200-day moving average of $360.04.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.84 earnings per share. Equities research analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's dividend payout ratio (DPR) is 30.58%.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company's stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays decreased their price objective on Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a report on Thursday, July 16th. Raymond James Financial set a $450.00 price target on Elevance Health in a research report on Tuesday, July 7th. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Morgan Stanley boosted their price objective on Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. Finally, Truist Financial increased their price objective on Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $440.90.

Elevance Health Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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