Elevance Health, Inc. $ELV Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,163 shares of the company’s stock after purchasing an additional 9,534 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Elevance Health were worth $46,177,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ELV. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 666,534 shares in the last quarter. Orbis Allan Gray Ltd grew its stake in shares of 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 acquiring an additional 680,228 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Elevance Health by 9.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company’s stock valued at $867,713,000 after acquiring an additional 199,550 shares in the last quarter. Invesco Ltd. grew its stake in shares of Elevance Health by 1.2% during the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after acquiring an additional 24,833 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Elevance Health by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after acquiring an additional 29,174 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on ELV shares. Leerink Partners reiterated a “market perform” rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. UBS Group reiterated a “buy” rating and issued a $484.00 price target (down from $555.00) on shares of Elevance Health in a research note on Monday, July 14th. Wells Fargo & Company decreased their price target on Elevance Health from $400.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $413.81.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of the firm’s stock in a transaction 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 owned 151,020 shares of the company’s stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $321.29 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $314.70 and its two-hundred day moving average price is $374.49. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $562.11. The stock has a market capitalization of $72.35 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.17 and a beta of 0.59.

Elevance Health (NYSE:ELV) last issued its earnings results 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). The business had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $10.12 EPS. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is 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.