Elevance Health, Inc. $ELV Shares Sold by Waterloo Capital L.P.

Waterloo Capital L.P. decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 24.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 717 shares of the company’s stock after selling 234 shares during the period. Waterloo Capital L.P.’s holdings in Elevance Health were worth $279,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at approximately $789,943,000. Sanders Capital LLC grew its position in Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Vanguard Group Inc. grew its position in Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after buying an additional 704,790 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares during the period. Finally, Boston Partners raised its position in Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after buying an additional 605,689 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ELV shares. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 target price on the stock. Guggenheim boosted their price target on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Elevance Health in a report on Thursday, October 23rd. TD Cowen lifted their price objective on Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Bank of America boosted their target price on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Twelve analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Hold” and an average price target of $397.33.

Elevance Health Stock Performance

NYSE ELV opened at $336.28 on Wednesday. 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 fifty-two week low of $273.71 and a fifty-two week high of $458.75. The business has a fifty day moving average of $331.74 and a 200-day moving average of $336.47. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60.

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

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s payout ratio is 27.96%.

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.