Elevance Health, Inc. $ELV Stock Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 458.3% in the 3rd quarter, Holdings Channel reports. The fund owned 5,633 shares of the company’s stock after buying an additional 4,624 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Elevance Health were worth $2,212,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ELV. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Elevance Health in the second quarter valued at approximately $2,086,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Elevance Health during the 2nd quarter valued at approximately $970,000. State Street Corp boosted its holdings in Elevance Health by 1.3% in the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after buying an additional 137,914 shares during the period. Farther Finance Advisors LLC boosted its holdings in Elevance Health by 27.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 11,826 shares of the company’s stock worth $4,598,000 after buying an additional 2,518 shares during the period. Finally, State of Wyoming purchased a new position in Elevance Health in the 2nd quarter valued at approximately $1,765,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the company’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer directly owned 19,919 shares in the company, valued at $8,766,949.47. This represents a 34.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ratnakar Lavu sold 1,300 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $440.00, for a total value of $572,000.00. Following the completion of the transaction, the executive vice president owned 14,849 shares in the company, valued at $6,533,560. This represents a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

NYSE ELV opened at $429.48 on Wednesday. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $450.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $92.79 billion, a PE ratio of 18.31, a P/E/G ratio of 2.00 and a beta of 0.63. The company’s 50 day simple moving average is $414.10 and its two-hundred day simple moving average is $374.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, beating the consensus estimate of $4.71 by $2.28. The firm had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $6.03 EPS. Analysts predict that Elevance Health, Inc. will post 29.15 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is 29.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ELV shares. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a report on Thursday, July 16th. TD Cowen raised their price target on Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Truist Financial lifted their price target on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada increased their price objective on Elevance Health from $424.00 to $455.00 and gave the stock a “sector perform” rating in a report on Thursday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $456.48.

Elevance Health Company Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.