Osmosis Investment Management UK Ltd Acquires New Holdings in Elevance Health, Inc. $ELV

Key Points

• Osmosis Investment Management acquired 15,686 Elevance Health shares worth approximately $6.1 million during the second quarter, while institutional investors collectively own 89.24% of the stock.
• Elevance Health reported quarterly EPS of $7.45, beating estimates of $6.21, and revenue of $49.83 billion, up 0.8% year over year and above analyst expectations.
• The company declared a quarterly dividend of $1.72, equivalent to $6.88 annually and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $440.90.

Osmosis Investment Management UK Ltd bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,686 shares of the company's stock, valued at approximately $6,066,000.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Elevance Health during the 2nd quarter valued at $5,106,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Elevance Health in the second quarter worth $2,086,000. Te Ahumairangi Investment Management Ltd purchased a new stake in shares of Elevance Health in the second quarter worth $4,106,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Elevance Health during the second quarter valued at $175,048,000. Finally, Benchmark Investment Advisors LLC bought a new stake in Elevance Health during the second quarter valued at $363,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.0%

NYSE ELV opened at $400.66 on Monday. The stock's 50-day simple moving average is $394.76 and its two-hundred day simple moving average is $360.04. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $86.89 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.29 and a beta of 0.68.

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

Elevance Health Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ELV shares. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a research note on Thursday, July 16th. Raymond James Financial set a $450.00 price target on Elevance Health in a research report on Tuesday, July 7th. Bank of America boosted their price objective on Elevance Health from $435.00 to $460.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. The Goldman Sachs Group restated a "neutral" rating and issued a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Finally, Barclays lowered their target price on shares of Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $440.90.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company's stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health Company 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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