Stoneridge Investment Partners LLC Purchases Shares of 2,581 Elevance Health, Inc. $ELV

Stoneridge Investment Partners LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,581 shares of the company’s stock, valued at approximately $970,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP grew its position in Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after acquiring an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after acquiring an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after buying an additional 455,946 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after acquiring an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Elevance Health by 50.3% in the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after buying an additional 1,306,390 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a report on Thursday, July 16th. Truist Financial increased their price target on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Evercore reiterated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. UBS Group boosted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, TD Cowen upped their target price on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of NYSE ELV opened at $400.63 on Friday. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The business’s 50 day moving average price is $396.05 and its 200 day moving average price is $358.15. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $86.88 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly 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. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same period last year, the firm posted $8.84 EPS. Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

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.