Sei Investments Co. Purchases 2,346 Shares of Elevance Health, Inc. $ELV

Key Points

• Sei Investments Co. increased its holdings in Elevance Health by 1.6%, owning approximately $66.08 million worth of shares as of the end of the first quarter.
• Elevance Health's latest earnings report revealed a missed earnings per share expectation at $8.84, having an actual revenue of $49.42 billion for the quarter, up 14.3% year over year.
• The company announced a quarterly dividend of $1.71 per share, with a dividend yield of 2.3% and a payout ratio of 29.11%.

Sei Investments Co. raised its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,923 shares of the company's stock after acquiring an additional 2,346 shares during the period. Sei Investments Co. owned about 0.07% of Elevance Health worth $66,080,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ELV. Nuveen LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at $789,943,000. GAMMA Investing LLC boosted its stake in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after purchasing an additional 1,472,712 shares during the period. D1 Capital Partners L.P. bought a new position in Elevance Health in the 4th quarter worth about $294,751,000. Vanguard Group Inc. boosted its position in shares of Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after acquiring an additional 666,534 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company's stock valued at $372,039,000 after acquiring an additional 605,689 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company's stock.

Elevance Health Price Performance

NYSE ELV traded up $3.73 during trading on Tuesday, hitting $313.05. 1,173,112 shares of the stock traded hands, compared to its average volume of 1,965,069. The company has a market capitalization of $70.49 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.13 and a beta of 0.58. The firm has a 50-day simple moving average of $329.92 and a 200-day simple moving average of $380.93. 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, Inc. has a 12-month low of $273.71 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business'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 EPS. As a group, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent research reports. Truist Financial dropped their target price on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Argus reaffirmed a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Robert W. Baird cut their target price on Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Guggenheim lowered their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $413.81.

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.