Te Ahumairangi Investment Management Ltd Acquires Shares of 10,617 Elevance Health, Inc. $ELV

Te Ahumairangi Investment Management Ltd purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,617 shares of the company's stock, valued at approximately $4,106,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Elevance Health in the 2nd quarter worth about $7,344,424,000. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock worth $2,906,051,000 after buying an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company's stock worth $2,610,261,000 after acquiring an additional 1,607,274 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company's stock valued at $1,764,231,000 after acquiring an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company's stock valued at $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Elevance Health in a research report on Thursday, August 13th. Leerink Partners increased their price target on shares of Elevance Health from $364.00 to $395.00 and gave the company a "market perform" rating in a research report on Friday, July 17th. UBS Group lifted their price target on shares of Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Truist Financial upped their price target on Elevance Health from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, Barclays lowered their price objective on Elevance Health from $480.00 to $457.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $440.90.

Elevance Health Stock Up 0.0%

NYSE ELV opened at $400.66 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The stock's 50 day moving average is $394.76 and its 200 day moving average is $360.04. The stock has a market cap of $86.89 billion, a PE ratio of 17.81, a P/E/G ratio of 2.29 and a beta of 0.68.

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

Elevance Health Dividend Announcement

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

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Elevance Health 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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