BDF Gestion Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

BDF Gestion purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,773 shares of the company’s stock, valued at approximately $5,837,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new position in Elevance Health during the second quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new position in shares of Elevance Health in the first quarter valued at $28,000. Alaska Permanent Fund Corp acquired a new position in Elevance Health during the fourth quarter worth $31,000. Finally, Beaird Harris Wealth Management LLC bought a new stake in Elevance Health during the fourth quarter worth $32,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’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 $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 in the last quarter. 0.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. TD Cowen decreased their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Wells Fargo & Company dropped their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research note on Tuesday, July 23rd. Mizuho increased their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $604.29.

Elevance Health Trading Up 1.1 %

Shares of ELV traded up $5.55 during trading hours on Friday, hitting $532.07. 664,144 shares of the stock were exchanged, compared to its average volume of 1,054,622. The firm has a market capitalization of $123.66 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $555.35. The business has a 50-day moving average of $530.34 and a 200-day moving average of $519.17.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.