Bessemer Group Inc. Grows Position in Elevance Health, Inc. $ELV

Bessemer Group Inc. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.4% during the 2nd quarter, Holdings Channel reports. The firm owned 139,220 shares of the company’s stock after acquiring an additional 493 shares during the quarter. Bessemer Group Inc.’s holdings in Elevance Health were worth $54,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Private Wealth Management Group LLC grew its position in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. WPG Advisers LLC purchased a new stake in Elevance Health during the 1st quarter worth approximately $29,000. North Capital Inc. purchased a new stake in Elevance Health during the 1st quarter worth approximately $36,000. Glass Jacobson Investment Advisors llc lifted its stake in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 80 shares during the period. Finally, Saudi Central Bank acquired a new stake in Elevance Health during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ELV. Leerink Partners restated a “market perform” rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group began coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective for the company. Finally, Bank of America lifted their price objective on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $397.89.

Elevance Health Price Performance

Shares of NYSE ELV opened at $341.90 on Tuesday. The firm has a market cap of $75.98 billion, a PE ratio of 13.98, a PEG ratio of 1.25 and a beta of 0.59. The firm has a fifty day moving average of $327.73 and a 200 day moving average of $351.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.37 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Insider Buying and Selling

In related news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

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.