Victrix Investment Advisors Takes $345,000 Position in Elevance Health, Inc. $ELV

Key Points

• Victrix Investment Advisors has made a new investment in Elevance Health, acquiring 887 shares valued at approximately $345,000.
• Institutional investors own 89.24% of Elevance Health's stock, with significant increases in holdings reported by Vanguard Group, Orbis Allan Gray, and UBS Asset Management.
• Elevance Health recently announced a quarterly dividend of $1.71 per share, representing an annual yield of 2.1% and a payout ratio of 29.11%.

Victrix Investment Advisors bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 887 shares of the company's stock, valued at approximately $345,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ELV. Vanguard Group Inc. boosted its position in shares of Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the last quarter. Orbis Allan Gray Ltd boosted its holdings in shares of Elevance Health by 31.4% in the 1st 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 last quarter. 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 1st 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 period. Invesco Ltd. grew its stake in shares of Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company's stock valued at $920,501,000 after buying an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Elevance Health by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company's stock worth $845,394,000 after buying an additional 29,174 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Robert W. Baird dropped their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Wells Fargo & Company cut their price target on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Morgan Stanley decreased their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Leerink Partners reissued a "market perform" rating and issued a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Finally, Barclays lifted their target price on shares of Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and an average price target of $411.06.

Elevance Health Trading Up 1.0%

Shares of NYSE ELV opened at $322.89 on Wednesday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $524.68. The company has a market cap of $72.71 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. 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's 50 day simple moving average is $304.83 and its 200 day simple moving average is $363.10.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $8.84 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 quarter last year, the company posted $10.12 EPS. Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health's payout ratio is presently 29.11%.

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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