Vanguard Personalized Indexing Management LLC Raises Holdings in Elevance Health, Inc. $ELV

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Elevance Health, Inc. by 3.7%, bringing its total to 36,247 shares valued at approximately $14.1 million.
• Elevance Health recently reported earnings per share of $8.84 for the quarter, falling short of analysts' estimates, while revenue grew by 14.3% year-over-year to $49.42 billion.
• The company announced a quarterly dividend of $1.71 per share, translating to an annualized dividend of $6.84 and a yield of 1.9%.

Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,247 shares of the company's stock after purchasing an additional 1,278 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Elevance Health were worth $14,102,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ELV. Private Wealth Management Group LLC increased its stake in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after purchasing an additional 38 shares in the last quarter. WPG Advisers LLC acquired a new stake in Elevance Health during the first quarter worth approximately $29,000. North Capital Inc. acquired a new stake in Elevance Health during the first quarter worth approximately $36,000. Saudi Central Bank acquired a new stake in Elevance Health during the first quarter worth approximately $40,000. Finally, Berbice Capital Management LLC acquired a new stake in Elevance Health during the first quarter worth approximately $43,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Down 1.4%

Shares of ELV opened at $353.29 on Friday. The firm has a market cap of $79.55 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. The company's fifty day moving average is $315.10 and its two-hundred day moving average is $358.68. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24. 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 (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $10.12 EPS. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were issued a dividend of $1.71 per share. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. Elevance Health's payout ratio is presently 29.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ELV. UBS Group decreased their target price on shares of Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a research report on Friday, September 5th. Weiss Ratings upgraded shares of Elevance Health from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Argus restated a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Finally, Truist Financial decreased their target price on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $412.00.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

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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