Robeco Institutional Asset Management B.V. Sells 28,402 Shares of Elevance Health, Inc. $ELV

Robeco Institutional Asset Management B.V. decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 24.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 89,913 shares of the company’s stock after selling 28,402 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Elevance Health were worth $34,973,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. GLOBALT Investments LLC GA boosted its position in shares of Elevance Health by 0.4% during the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc lifted its position in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock valued at $384,000 after purchasing an additional 26 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after purchasing an additional 27 shares in the last quarter. Hemington Wealth Management lifted its position in shares of Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after purchasing an additional 27 shares in the last quarter. Finally, Aspen Investment Management Inc lifted its position in shares of Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Elevance Health from $327.00 to $373.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Morgan Stanley lowered their price objective on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, August 15th. JPMorgan Chase & Co. decreased their target price on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. Finally, UBS Group decreased their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $411.06.

Elevance Health Stock Up 3.2%

Shares of Elevance Health stock 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’s fifty day simple moving average is $307.98 and its two-hundred day simple moving average is $361.67. The company has a market cap of $79.06 billion, a P/E ratio of 14.94, a PEG ratio of 1.25 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $510.24.

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

Elevance Health Announces Dividend

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

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

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.