17,588 Shares in Elevance Health, Inc. $ELV Bought by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, Holdings Channel reports. The firm purchased 17,588 shares of the company’s stock, valued at approximately $6,841,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after buying an additional 666,534 shares during the period. Orbis Allan Gray Ltd raised its holdings 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 acquiring an additional 680,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after purchasing an additional 324,040 shares during the period. Invesco Ltd. increased its position in shares of Elevance Health by 1.2% during the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after purchasing an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Elevance Health by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after purchasing an additional 29,174 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $340.18 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 stock has a market capitalization of $76.60 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.22 and a beta of 0.59. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $510.24. The firm’s 50-day moving average price is $306.74 and its two-hundred day moving average price is $362.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.12 earnings per share. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were paid a $1.71 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gail Boudreaux acquired 8,500 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ELV shares. Guggenheim decreased their price target on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Truist Financial reduced their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Morgan Stanley dropped their price target on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Argus reiterated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Finally, Leerink Partners reiterated a “market perform” rating and issued a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $411.06.

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.