Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management grew its position in Elevance Health, Inc. (NYSE:ELV) by 526.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,104 shares of the company’s stock after purchasing an additional 5,129 shares during the period. Elevance Health makes up approximately 0.8% of Neo Ivy Capital Management’s holdings, making the stock its 24th largest holding. Neo Ivy Capital Management’s holdings in Elevance Health were worth $2,655,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Milestone Asset Management LLC raised its holdings in shares of Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock valued at $488,000 after buying an additional 24 shares during the period. Elser Financial Planning Inc raised its holdings in shares of Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock valued at $384,000 after buying an additional 26 shares during the period. Checchi Capital Advisers LLC raised its holdings in shares of Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after buying an additional 27 shares during the period. Prudent Man Advisors LLC raised its holdings in shares of Elevance Health by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock valued at $547,000 after buying an additional 28 shares during the period. Finally, Barlow Wealth Partners Inc. raised its holdings in shares of Elevance Health by 1.3% during the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company’s stock valued at $961,000 after buying an additional 30 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 5.5%

NYSE:ELV opened at $280.28 on Friday. Elevance Health, Inc. has a 12-month low of $274.40 and a 12-month high of $567.26. The firm has a market capitalization of $63.11 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.09 and a beta of 0.60. 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 business has a 50 day simple moving average of $363.07 and a 200 day simple moving average of $393.21.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.44%. Elevance Health’s dividend payout ratio is currently 29.11%.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on Elevance Health from $478.00 to $400.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Argus restated a “hold” rating on shares of Elevance Health in a report on Monday. Finally, UBS Group restated a “buy” rating and set a $484.00 price objective (down from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $432.69.

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.