Punch & Associates Investment Management Inc. Grows Holdings in Elevance Health, Inc. $ELV

Punch & Associates Investment Management Inc. increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,229 shares of the company’s stock after purchasing an additional 3,630 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Elevance Health were worth $6,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sei Investments Co. increased its position in Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after acquiring an additional 11,745 shares during the period. Glenview Trust co raised its stake in Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after acquiring an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after acquiring an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Elevance Health by 5.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after acquiring an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after purchasing an additional 23,180 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV stock opened at $377.39 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $398.69 and a 200-day simple moving average of $356.52. The company has a market cap of $81.84 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the business earned $8.84 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts forecast that Elevance Health, Inc. will post 27.04 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ELV. Raymond James Financial set a $450.00 target price on Elevance Health in a report on Tuesday, July 7th. Jefferies Financial Group decreased their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday, April 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Citigroup raised shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada cut their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.