Elevance Health, Inc. $ELV Stock Position Lifted by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its position in Elevance Health, Inc. (NYSE:ELV) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,157 shares of the company’s stock after buying an additional 524 shares during the quarter. IFM Investors Pty Ltd’s holdings in Elevance Health were worth $20,511,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ELV. Private Wealth Management Group LLC lifted its stake in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after acquiring an additional 38 shares in the last quarter. WPG Advisers LLC acquired a new position in Elevance Health in the 1st quarter worth about $29,000. Riverview Trust Co increased its holdings in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. North Capital Inc. acquired a new position in shares of Elevance Health during the 1st quarter valued at about $36,000. Finally, Saudi Central Bank acquired a new stake in Elevance Health in the 1st quarter valued at approximately $40,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial lowered their target price on Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Argus reissued a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $411.06.

Insider Activity

In other news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% 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 the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Elevance Health Trading Up 2.4%

Shares of ELV opened at $315.45 on Wednesday. The stock has a fifty day moving average price of $308.80 and a two-hundred day moving average price of $372.27. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $559.95. The company has a market cap of $71.03 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.13 and a beta of 0.59.

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

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s dividend payout ratio is currently 29.11%.

Elevance Health 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.