Perpetual Ltd Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Perpetual Ltd increased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 9,383.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 96,634 shares of the company's stock after purchasing an additional 95,615 shares during the quarter. Perpetual Ltd's holdings in Elevance Health were worth $42,032,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ELV. Accredited Wealth Management LLC bought a new position in Elevance Health during the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the 4th quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health in the 4th quarter worth about $29,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health in the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $30,000. Institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent analyst reports. Mizuho increased their price target on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Guggenheim reiterated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Barclays lowered their target price on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research note on Monday, June 2nd. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $498.87.

Elevance Health Stock Up 2.2%

ELV stock traded up $8.07 during trading on Friday, reaching $381.25. 1,774,243 shares of the company traded hands, compared to its average volume of 1,578,161. The business has a 50 day simple moving average of $393.84 and a 200 day simple moving average of $398.61. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $86.14 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. On average, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.79%. Elevance Health's payout ratio is 26.69%.

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.