Bailard Inc. Purchases 1,421 Shares of Elevance Health, Inc. $ELV

Bailard Inc. increased its position in Elevance Health, Inc. (NYSE:ELV) by 79.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,214 shares of the company’s stock after purchasing an additional 1,421 shares during the period. Bailard Inc.’s holdings in Elevance Health were worth $1,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ELV. WPG Advisers LLC purchased a new stake in shares of Elevance Health in the 1st quarter worth about $29,000. BOK Financial Private Wealth Inc. bought a new stake in Elevance Health during the second quarter worth about $32,000. Glass Jacobson Investment Advisors llc grew its holdings in Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the period. Saudi Central Bank bought a new position in shares of Elevance Health during the first quarter valued at approximately $40,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Elevance Health during the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $328.16 on Friday. The stock has a market capitalization of $72.93 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The business’s fifty day moving average price is $329.49 and its 200-day moving average price is $342.44.

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

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio is 27.96%.

Insider Activity

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, 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 accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ELV. Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Guggenheim increased their target price on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Finally, Mizuho dropped their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Hold” and a consensus price target of $397.33.

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.