Vest Financial LLC Buys 14,809 Shares of Elevance Health, Inc. $ELV

Key Points

• Vest Financial LLC has increased its stake in Elevance Health by 17.4%, acquiring an additional 14,809 shares, bringing its total ownership to 99,799 shares valued at approximately $38.8 million.
• Several large investors, including Nuveen LLC and Vanguard Group, have significantly increased their positions in Elevance Health, with institutional investors now owning 89.24% of the stock.
• Analysts have varying ratings on Elevance Health, with a consensus rating of "Moderate Buy" and an average price target of $412.00.

Vest Financial LLC increased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 17.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,799 shares of the company's stock after buying an additional 14,809 shares during the period. Vest Financial LLC's holdings in Elevance Health were worth $38,818,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ELV. Nuveen LLC purchased a new stake in Elevance Health during the first quarter valued at approximately $789,943,000. Orbis Allan Gray Ltd raised its position in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company's stock valued at $1,239,276,000 after purchasing an additional 680,228 shares during the period. Vanguard Group Inc. raised its position in Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after purchasing an additional 666,534 shares during the period. Boston Partners raised its position in Elevance Health by 241.3% during the first quarter. Boston Partners now owns 856,737 shares of the company's stock valued at $372,039,000 after purchasing an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company's stock valued at $1,164,041,000 after buying an additional 324,040 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ELV. Bank of America upped their target price on Elevance Health from $330.00 to $370.00 and gave the company a "neutral" rating in a research note on Friday. Barclays upped their target price on Elevance Health from $373.00 to $395.00 and gave the company an "overweight" rating in a research note on Thursday. Argus reaffirmed a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Leerink Partnrs cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, Truist Financial cut their target price 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. Twelve analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and an average price target of $412.00.

Elevance Health Stock Down 1.4%

Shares of NYSE:ELV opened at $353.29 on Monday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $510.24. The stock has a market cap of $79.55 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. The business's 50 day moving average is $315.10 and its 200 day moving average is $358.17. 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 announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) 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 firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period last year, the company earned $10.12 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux bought 8,500 shares of the company's stock in a transaction on Friday, July 18th. The shares were acquired at an average price 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 of the company's stock, valued at $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 SEC, which can be accessed through this hyperlink. Also, Director Susan D. Devore bought 1,200 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, 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. 0.29% of the stock is currently owned by company insiders.

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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