5,277 Shares in Elevance Health, Inc. $ELV Purchased by United Services Automobile Association

Key Points

• The United Services Automobile Association invested approximately $2.28 million in Elevance Health, acquiring 5,277 shares of the company.
• A series of institutional investments in Elevance Health has increased, with significant stakes from firms like Nuveen LLC and GAMMA Investing LLC, indicating strong institutional interest.
• Elevance Health announced a quarterly dividend of $1.71 per share, with a yield of 2.2% and a payout ratio of 29.11%.

United Services Automobile Association purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,277 shares of the company's stock, valued at approximately $2,280,000.

Other hedge funds have also made changes to their positions in the company. Private Wealth Management Group LLC lifted its stake in Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after purchasing an additional 38 shares during the last quarter. WPG Advisers LLC bought a new position in Elevance Health during the first quarter worth $29,000. Riverview Trust Co lifted its stake in Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after purchasing an additional 67 shares during the last quarter. North Capital Inc. bought a new position in Elevance Health during the first quarter worth $36,000. Finally, Orion Capital Management LLC bought a new position in Elevance Health during the fourth quarter worth $39,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ELV shares. Truist Financial reduced their price objective on Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Barclays raised their target price on Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Finally, Leerink Partners reiterated a "market perform" rating and issued a $310.00 target price (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $411.06.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer directly owned 151,020 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan D. Devore bought 1,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares of the company's stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $3.15 during midday trading on Friday, reaching $311.74. 1,503,234 shares of the company traded hands, compared to its average volume of 2,082,560. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $559.95. The stock has a 50-day moving average price of $306.50 and a 200 day moving average price of $370.70. 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 $70.20 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.15 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The company had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.12 earnings per share. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's payout ratio is presently 29.11%.

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.