US Bancorp DE Has $23.12 Million Stock Position in Elevance Health, Inc. $ELV

US Bancorp DE lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,438 shares of the company’s stock after selling 401 shares during the quarter. US Bancorp DE’s holdings in Elevance Health were worth $23,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in shares of Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after buying an additional 680,228 shares during the last quarter. 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 first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after buying an additional 324,040 shares during the last quarter. Invesco Ltd. grew its stake in shares of Elevance Health by 1.2% during the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after buying an additional 24,833 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Elevance Health by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock worth $845,394,000 after buying an additional 29,174 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Elevance Health from $330.00 to $412.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group reduced their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Guggenheim boosted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Finally, Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $412.00.

Elevance Health Stock Performance

Shares of ELV opened at $353.29 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $79.55 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.31 and a beta of 0.59. The firm’s fifty day simple moving average is $315.10 and its two-hundred day simple moving average is $359.18. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $510.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $10.12 EPS. As a group, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.9%. Elevance Health’s dividend payout ratio is 29.11%.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction dated Friday, July 18th. The stock was bought 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 directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction dated 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 purchase, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

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.