Vanguard Group Inc. Has $9.64 Billion Position in Elevance Health, Inc. (NYSE:ELV)

Key Points

• Vanguard Group Inc. increased its stake in Elevance Health, holding approximately 22.15 million shares valued at $9.64 billion, representing about 9.80% of the company's stock.
• Elevance Health reported quarterly earnings of $8.84 EPS, which fell short of analysts' expectations, but their revenue increased by 14.3% year-over-year, totaling $49.42 billion.
• The company announced a quarterly dividend of $1.71 per share, with a dividend yield of 2.5%, reflecting a payout ratio of 29.11%.

Vanguard Group Inc. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,152,108 shares of the company's stock after acquiring an additional 666,534 shares during the quarter. Vanguard Group Inc. owned approximately 9.80% of Elevance Health worth $9,635,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Milestone Asset Management LLC raised its position in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after acquiring an additional 24 shares in the last quarter. GLOBALT Investments LLC GA raised its position in Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc raised its position in Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after acquiring an additional 26 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after acquiring an additional 27 shares in the last quarter. Finally, Prudent Man Advisors LLC raised its position in Elevance Health by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company's stock valued at $547,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 0.6%

ELV opened at $276.45 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.84 and a 1-year high of $567.26. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $62.25 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.01 and a beta of 0.58. The business has a 50 day moving average of $345.92 and a 200-day moving average of $387.54.

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

Elevance Health Announces Dividend

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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ELV shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Barclays lowered their price target on Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Leerink Partners reiterated a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. UBS Group reiterated a "buy" rating and set a $484.00 price target (down previously from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Finally, Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $418.19.

Insider Activity at Elevance Health

In other news, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction that occurred on 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 purchase, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Elevance Health Company 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.

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