IFM Investors Pty Ltd Boosts Stake in Elevance Health Inc. (NYSE:ELV)

IFM Investors Pty Ltd increased its stake in shares of Elevance Health Inc. (NYSE:ELVGet Rating) by 17.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 39,346 shares of the company’s stock after purchasing an additional 5,841 shares during the period. IFM Investors Pty Ltd’s holdings in Elevance Health were worth $19,328,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tyler Stone Wealth Management purchased a new position in Elevance Health in the 4th quarter valued at approximately $41,000. Benjamin Edwards Inc. boosted its position in Elevance Health by 145.9% in the 4th quarter. Benjamin Edwards Inc. now owns 91 shares of the company’s stock valued at $42,000 after buying an additional 54 shares during the period. Johnson Financial Group Inc. boosted its position in Elevance Health by 79.4% in the 4th quarter. Johnson Financial Group Inc. now owns 122 shares of the company’s stock valued at $57,000 after buying an additional 54 shares during the period. City State Bank purchased a new position in Elevance Health in the 4th quarter valued at approximately $58,000. Finally, Bell Investment Advisors Inc boosted its position in Elevance Health by 28.0% in the 4th quarter. Bell Investment Advisors Inc now owns 128 shares of the company’s stock valued at $59,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 84.28% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several recent research reports. Cowen raised their price target on shares of Elevance Health from $472.00 to $642.00 in a research report on Thursday, April 21st. Jefferies Financial Group lifted their price objective on shares of Elevance Health from $575.00 to $625.00 in a research report on Thursday, April 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Elevance Health from $453.00 to $574.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. Loop Capital began coverage on shares of Elevance Health in a research report on Thursday, June 16th. They set a “buy” rating and a $550.00 price objective for the company. Finally, StockNews.com began coverage on shares of Elevance Health in a research report on Thursday, July 7th. They set a “strong-buy” rating for the company. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $557.15.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 990 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $468.88, for a total transaction of $464,191.20. Following the transaction, the director now directly owns 9,405 shares in the company, valued at $4,409,816.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 420 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $497.14, for a total transaction of $208,798.80. Following the sale, the director now owns 9,491 shares of the company’s stock, valued at $4,718,355.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ramiro G. Peru sold 990 shares of the business’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $468.88, for a total transaction of $464,191.20. Following the sale, the director now directly owns 9,405 shares in the company, valued at approximately $4,409,816.40. The disclosure for this sale can be found here. Insiders have sold a total of 7,738 shares of company stock worth $3,764,851 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Elevance Health Trading Up 0.3 %

NYSE ELV opened at $477.10 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.37. The firm has a market cap of $114.50 billion, a PE ratio of 19.13, a P/E/G ratio of 1.35 and a beta of 0.96. Elevance Health Inc. has a one year low of $355.43 and a one year high of $533.68. The firm’s fifty day moving average is $481.33 and its two-hundred day moving average is $477.47.

Elevance Health (NYSE:ELVGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $8.04 EPS for the quarter, beating analysts’ consensus estimates of $7.74 by $0.30. The company had revenue of $38.48 billion for the quarter, compared to analyst estimates of $38.05 billion. Elevance Health had a net margin of 4.09% and a return on equity of 19.20%. Elevance Health’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $7.03 earnings per share. Analysts expect that Elevance Health Inc. will post 28.79 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $1.28 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 1.07%. Elevance Health’s dividend payout ratio (DPR) is 20.53%.

Elevance Health Company Profile

(Get Rating)

Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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