Ninety One UK Ltd Acquires 336 Shares of Elevance Health, Inc. $ELV

Ninety One UK Ltd grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 381,652 shares of the company’s stock after purchasing an additional 336 shares during the quarter. Ninety One UK Ltd owned approximately 0.17% of Elevance Health worth $148,447,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ELV. Milestone Asset Management LLC boosted its holdings in shares of Elevance Health by 2.2% in 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 last quarter. GLOBALT Investments LLC GA raised its position in Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc lifted its stake in Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock valued at $384,000 after acquiring an additional 26 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after acquiring an additional 27 shares during the period. Finally, Hemington Wealth Management grew its position in shares of Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after acquiring an additional 27 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ELV shares. Robert W. Baird cut their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Morgan Stanley cut their price objective on Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research note on Tuesday, July 22nd. UBS Group dropped their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, Guggenheim reduced their price objective on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Twelve 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $411.06.

Elevance Health Price Performance

Shares of ELV opened at $322.89 on Wednesday. The firm has a market capitalization of $72.71 billion, a PE ratio of 13.74, a PEG ratio of 1.17 and a beta of 0.59. The company’s 50-day moving average is $304.83 and its 200-day moving average is $363.10. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $524.68. 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 released 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 analyst estimates of $48.26 billion. During the same quarter last year, the company posted $10.12 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were paid a $1.71 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio is 29.11%.

Insider Activity

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

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.