Elevance Health, Inc. $ELV Shares Bought by Focused Investors LLC

Focused Investors LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 514,900 shares of the company’s stock after acquiring an additional 9,700 shares during the period. Elevance Health accounts for about 6.6% of Focused Investors LLC’s holdings, making the stock its 2nd biggest position. Focused Investors LLC’s holdings in Elevance Health were worth $200,276,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ELV. Nuveen LLC acquired a new position in Elevance Health in the 1st quarter valued at $789,943,000. Orbis Allan Gray Ltd raised its holdings in Elevance Health by 31.4% in the 1st 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 during the last quarter. Vanguard Group Inc. grew its stake in shares of Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after buying an additional 666,534 shares during the period. Boston Partners grew its stake in shares of Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after buying an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after buying an additional 324,040 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ELV shares. Argus reissued a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Elevance Health in a research note on Saturday, September 27th. UBS Group lowered their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Robert W. Baird lowered their price objective 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $416.19.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux bought 8,500 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at approximately $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 Stock Performance

Shares of ELV stock opened at $357.52 on Wednesday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $510.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $80.51 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.28 and a beta of 0.59. The company’s fifty day moving average price is $310.64 and its two-hundred day moving average price is $360.12.

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). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s dividend payout ratio is 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.