Elevance Health, Inc. (NYSE:ELV) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 160.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,053 shares of the company’s stock after purchasing an additional 3,114 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Elevance Health were worth $2,620,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ELV. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the first quarter valued at $28,000. Alaska Permanent Fund Corp acquired a new stake in Elevance Health in the fourth quarter valued at $31,000. Beaird Harris Wealth Management LLC acquired a new stake in Elevance Health in the fourth quarter valued at $32,000. Finally, Register Financial Advisors LLC acquired a new stake in Elevance Health in the first quarter valued at $32,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.3 %

ELV traded down $1.47 during midday trading on Tuesday, hitting $502.42. The company’s stock had a trading volume of 950,915 shares, compared to its average volume of 1,060,953. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market cap of $116.51 billion, a P/E ratio of 18.99, a PEG ratio of 1.11 and a beta of 0.84. The firm has a 50-day moving average price of $531.78 and a two-hundred day moving average price of $515.54. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $555.35.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.04 EPS. On average, research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ELV. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. TD Cowen reduced their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday. Truist Financial raised their price target on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research report on Tuesday. Finally, Robert W. Baird began coverage on Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target for the company. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $604.29.

About Elevance Health

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.