Great Lakes Advisors LLC Makes New $5.68 Million Investment in Elevance Health, Inc. $ELV

Great Lakes Advisors LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,681 shares of the company’s stock, valued at approximately $5,678,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Elevance Health by 7.7% during the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after purchasing an additional 11,745 shares during the last quarter. Glenview Trust co grew its stake in Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after buying an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after buying an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Elevance Health by 5.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after buying an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Elevance Health by 111.8% in the second quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after buying an additional 23,180 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELV shares. Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research note on Tuesday, July 7th. Mizuho raised their price target on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Guggenheim lifted their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, Citigroup raised shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Price Performance

Shares of ELV opened at $398.53 on Thursday. The business’s 50-day moving average is $394.87 and its two-hundred day moving average is $359.27. The company has a market capitalization of $86.43 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24.

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, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the previous year, the firm posted $8.84 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Announces Dividend

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 issued a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s payout ratio is presently 30.58%.

Insider Buying and Selling

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

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.