Heartland Advisors Inc. Makes New Investment in Elevance Health, Inc. $ELV

Heartland Advisors Inc. bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,623 shares of the company’s stock, valued at approximately $2,948,000.

Other institutional investors have also made changes to their positions in the company. Sei Investments Co. grew 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 worth $63,666,000 after purchasing an additional 11,745 shares in the last quarter. Glenview Trust co raised its stake in Elevance Health by 41.5% in the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after purchasing an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Elevance Health by 6.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after purchasing an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Elevance Health by 5.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after buying an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Elevance Health by 111.8% in the 2nd 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 period. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Cantor Fitzgerald upped their target price on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. TD Cowen boosted their price target on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fifteen 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Trading Up 1.1%

NYSE ELV opened at $400.66 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company has a market cap of $86.89 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The business’s fifty day moving average is $394.76 and its 200 day moving average is $359.92.

Elevance Health (NYSE:ELV) last issued its earnings results 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. The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.84 EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

Insider Transactions at Elevance Health

In related 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 value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Elevance Health Company 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.