S&CO Inc. Buys Shares of 1,931 Elevance Health, Inc. (NYSE:ELV)

Key Points

• S&CO Inc. has acquired a new stake in Elevance Health, Inc., purchasing 1,931 shares valued at approximately $839,000 during the first quarter.
• Institutional investors now own 89.24% of Elevance Health's stock, reflecting sustained interest from investment firms.
• Analysts have adjusted their target prices for Elevance Health, with notable reductions from several firms, while the stock currently holds an average rating of "Moderate Buy."

S&CO Inc. purchased a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,931 shares of the company's stock, valued at approximately $839,000.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after purchasing an additional 464,137 shares in the last quarter. Wellington Management Group LLP boosted its stake in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC boosted its stake in Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after purchasing an additional 115,971 shares in the last quarter. Sanders Capital LLC boosted its stake in Elevance Health by 1.7% in the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after purchasing an additional 76,896 shares in the last quarter. Finally, Capital International Investors boosted its stake in Elevance Health by 0.9% in the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company's stock worth $1,431,559,000 after purchasing an additional 35,576 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ELV shares. 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Leerink Partners reaffirmed a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Truist Financial reduced their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $418.19.

Elevance Health Trading Down 3.2%

ELV traded down $8.98 during trading on Friday, reaching $274.10. The company had a trading volume of 3,307,099 shares, compared to its average volume of 1,934,360. The stock has a market cap of $61.72 billion, a P/E ratio of 11.66, a PEG ratio of 1.08 and a beta of 0.60. The business has a 50 day simple moving average of $351.82 and a 200-day simple moving average of $389.87. Elevance Health, Inc. has a 52 week low of $273.84 and a 52 week high of $567.26. 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 issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.12 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is 29.11%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company's stock.

Elevance Health Profile

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.