Boston Common Asset Management LLC Reduces Holdings in Elevance Health, Inc. $ELV

Boston Common Asset Management LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 22.5% during the second quarter, Holdings Channel.com reports. The fund owned 15,738 shares of the company’s stock after selling 4,567 shares during the period. Boston Common Asset Management LLC’s holdings in Elevance Health were worth $6,121,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Nuveen LLC purchased a new stake in Elevance Health in the first quarter valued at approximately $789,943,000. Orbis Allan Gray Ltd boosted its position in Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares during the last quarter. Vanguard Group Inc. boosted its position in Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after buying an additional 666,534 shares during the last quarter. Boston Partners boosted its position in Elevance Health by 241.3% in the first quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after buying an additional 605,689 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Elevance Health by 13.8% in 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 valued at $1,164,041,000 after buying an additional 324,040 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 3.2%

Shares of NYSE:ELV opened at $351.11 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 company has a market capitalization of $79.06 billion, a PE ratio of 14.94, a PEG ratio of 1.28 and a beta of 0.59. The business has a 50 day moving average of $307.98 and a two-hundred day moving average of $361.19. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $510.24.

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

Elevance Health Dividend Announcement

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

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost 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 position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELV. Leerink Partners reiterated a “market perform” rating and issued a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Guggenheim decreased their price target on Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a report on Friday, July 18th. Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Argus reissued a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Elevance Health in a report on Saturday, September 27th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $411.06.

Elevance Health Company 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.