Elevance Health, Inc. (NYSE:ELV) Shares Bought by Motco

Motco lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 64.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122 shares of the company’s stock after buying an additional 48 shares during the period. Motco’s holdings in Elevance Health were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its holdings in shares of Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after buying an additional 326,543 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health during the 1st quarter worth approximately $299,000. GAMMA Investing LLC increased its holdings in shares of Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after buying an additional 1,588 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Elevance Health by 185.7% during the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company’s stock worth $1,341,000 after buying an additional 2,004 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Elevance Health by 36.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company’s stock worth $11,991,000 after buying an additional 7,410 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ELV shares. Barclays cut their price target on shares of Elevance Health from $434.00 to $358.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. UBS Group reiterated a “buy” rating and issued a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Leerink Partners reiterated a “market perform” rating and issued a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Guggenheim dropped their target price on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a report on Friday, July 18th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $418.19.

Insider Activity

In other news, CEO Gail Boudreaux acquired 8,500 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost 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 in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $289.11 on Friday. 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, Inc. has a 52 week low of $274.40 and a 52 week high of $567.26. The stock has a market capitalization of $65.10 billion, a PE ratio of 12.30, a P/E/G ratio of 1.06 and a beta of 0.60. The firm has a 50 day moving average of $360.79 and a two-hundred day moving average of $392.64.

Elevance Health (NYSE:ELV) last issued its quarterly 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 net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. During the same period in the prior year, the business earned $10.12 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.37%. Elevance Health’s dividend payout ratio (DPR) is currently 29.11%.

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.