Intech Investment Management LLC Boosts Holdings in Elevance Health, Inc. $ELV

Intech Investment Management LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 12.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,790 shares of the company’s stock after buying an additional 3,047 shares during the period. Intech Investment Management LLC’s holdings in Elevance Health were worth $10,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Elevance Health in the first quarter valued at $789,943,000. Orbis Allan Gray Ltd increased its holdings in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after purchasing an additional 680,228 shares during the period. Vanguard Group Inc. increased its holdings in Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares during the period. Boston Partners raised its position in Elevance Health by 241.3% in the 1st 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Elevance Health by 13.8% in 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. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial set a $400.00 target price on shares of Elevance Health in a research note on Tuesday, October 14th. TD Cowen boosted their price target on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $397.33.

Insider Activity

In other news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction 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 transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Down 0.7%

Shares of NYSE:ELV opened at $325.94 on Friday. The firm has a 50 day simple moving average of $329.73 and a 200-day simple moving average of $341.33. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $72.44 billion, a PE ratio of 13.33, a P/E/G ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same period last year, the firm posted $8.37 EPS. The company’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

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.