Kentucky Farm Bureau Mutual Insurance Co Takes Position in Elevance Health, Inc. $ELV

Kentucky Farm Bureau Mutual Insurance Co acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,000 shares of the company’s stock, valued at approximately $3,094,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. WealthCollab LLC boosted its holdings in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the 4th quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health in the fourth quarter worth approximately $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Elevance Health during the fourth quarter valued at $38,000. Finally, Main Street Group LTD bought a new stake in Elevance Health during the first quarter valued at approximately $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent research reports. Leerink Partners boosted their price target on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Robert W. Baird lifted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Royal Bank Of Canada lowered their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Finally, Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Insider Buying and Selling

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Stock Up 0.1%

NYSE:ELV opened at $398.53 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24. The company has a 50-day moving average of $394.87 and a 200 day moving average of $359.27. The firm has a market cap of $86.43 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the previous year, the firm earned $8.84 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.