Elevance Health, Inc. $ELV Shares Purchased by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 12.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,160 shares of the company’s stock after acquiring an additional 465 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Elevance Health were worth $1,618,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Elevance Health in the first quarter valued at approximately $789,943,000. GAMMA Investing LLC increased its stake in Elevance Health by 81,726.5% in the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock valued at $641,355,000 after purchasing an additional 1,472,712 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in Elevance Health by 31.4% in 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 purchasing an additional 680,228 shares during the last quarter. Vanguard Group Inc. increased its stake in Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after purchasing an additional 666,534 shares during the last quarter. Finally, Boston Partners increased its stake in Elevance Health by 241.3% in the first quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after purchasing an additional 605,689 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ELV shares. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Robert W. Baird lowered their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. JPMorgan Chase & Co. lowered their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 22nd. Finally, Barclays raised their target price on 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $411.06.

Elevance Health Trading Up 0.5%

NYSE:ELV opened at $318.13 on Friday. The stock has a fifty day simple moving average of $303.14 and a 200-day simple moving average of $364.47. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $528.52. The company has a market capitalization of $71.64 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. 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 (NYSE:ELV) last announced its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share 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 firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same period in the previous year, the firm posted $10.12 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were issued a $1.71 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health’s payout ratio is 29.11%.

Insider Activity

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

Elevance Health 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.