Versor Investments LP Buys 2,898 Shares of Elevance Health, Inc. $ELV

Versor Investments LP grew its stake in Elevance Health, Inc. (NYSE:ELV) by 116.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,397 shares of the company’s stock after purchasing an additional 2,898 shares during the quarter. Versor Investments LP’s holdings in Elevance Health were worth $2,099,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 666,534 shares during the period. Orbis Allan Gray Ltd raised its position in shares of 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 purchasing an additional 680,228 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 purchasing an additional 324,040 shares during the period. Invesco Ltd. raised its position in shares of Elevance Health by 1.2% in the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after purchasing an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Elevance Health by 1.5% in the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after purchasing an additional 29,174 shares during the period. 89.24% of the stock is owned by institutional investors.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Elevance Health Trading Down 1.5%

Shares of Elevance Health stock opened at $317.05 on Friday. The company has a market capitalization of $70.46 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.23 and a beta of 0.59. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The firm’s 50-day moving average price is $329.07 and its two-hundred day moving average price is $348.54.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $8.37 earnings per share. On average, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Guggenheim raised their price target on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Mizuho raised their price target on shares of Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $398.44.

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.