Steigerwald Gordon & Koch Inc. Buys 1,054 Shares of Elevance Health, Inc. $ELV

Key Points

• Steigerwald Gordon & Koch Inc. increased its stake in Elevance Health by 2.4%, purchasing an additional 1,054 shares, bringing its total holdings to 45,598 shares valued at approximately $17.7 million.
• More than 89% of Elevance Health's stock is held by institutional investors, with significant increases in stakes from firms like GAMMA Investing LLC and Vanguard Group Inc..
• Elevance Health declared a quarterly dividend of $1.71 per share, which will be paid on September 25, representing an annualized yield of 2.1%.

Steigerwald Gordon & Koch Inc. grew its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,598 shares of the company's stock after purchasing an additional 1,054 shares during the period. Elevance Health makes up about 1.9% of Steigerwald Gordon & Koch Inc.'s portfolio, making the stock its 23rd biggest position. Steigerwald Gordon & Koch Inc.'s holdings in Elevance Health were worth $17,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ELV. Nuveen LLC bought a new stake in shares of Elevance Health in the 1st quarter valued at approximately $789,943,000. GAMMA Investing LLC lifted its stake in shares of Elevance Health by 81,726.5% during the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after acquiring an additional 1,472,712 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in shares of Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company's stock worth $1,239,276,000 after acquiring an additional 680,228 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 worth $9,635,281,000 after acquiring an additional 666,534 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company's stock worth $372,039,000 after acquiring an additional 605,689 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Transactions at Elevance Health

In other news, Director Susan D. Devore purchased 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction on Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following 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 position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Stock Up 1.5%

Shares of ELV stock opened at $318.47 on Tuesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $542.22. The stock's fifty day moving average price is $302.61 and its 200 day moving average price is $366.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $71.71 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last announced its 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). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter last year, the firm earned $10.12 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health's payout ratio is currently 29.11%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ELV shares. Guggenheim decreased their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Robert W. Baird decreased their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Wells Fargo & Company decreased their price target on Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Leerink Partnrs downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $411.06.

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.

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