Sei Investments Co. Boosts Position in Elevance Health, Inc. (NYSE:ELV)

Sei Investments Co. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.6% during the 1st quarter, HoldingsChannel reports. The firm owned 151,923 shares of the company’s stock after acquiring an additional 2,346 shares during the period. Sei Investments Co.’s holdings in Elevance Health were worth $66,080,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELV. Nuveen LLC bought a new stake in shares of Elevance Health during the first quarter valued at approximately $789,943,000. GAMMA Investing LLC increased its holdings in shares of Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock worth $641,355,000 after purchasing an additional 1,472,712 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of Elevance Health in the 4th quarter worth $294,751,000. Vanguard Group Inc. increased its holdings in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after purchasing an additional 605,689 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were purchased 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 approximately $43,333,678.80. This represents a 5.96% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ELV. Guggenheim reduced their target price on Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a report on Friday, July 18th. Robert W. Baird cut 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. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Morgan Stanley cut their price target on Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Finally, Leerink Partners reissued a “market perform” rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $418.19.

Elevance Health Price Performance

Shares of NYSE ELV opened at $294.18 on Thursday. The stock has a market capitalization of $66.24 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.07 and a beta of 0.58. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $567.26. The firm’s 50 day simple moving average is $335.00 and its 200-day simple moving average is $383.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The firm 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%. Elevance Health’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $10.12 EPS. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

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 paid 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 dividend yield of 2.3%. Elevance Health’s dividend payout ratio (DPR) is presently 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.