Boston Partners Sells 3,875 Shares of Elevance Health, Inc. (NYSE:ELV)

Boston Partners decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,781 shares of the company’s stock after selling 3,875 shares during the quarter. Boston Partners owned about 0.20% of Elevance Health worth $211,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. J.Safra Asset Management Corp bought a new position in shares of Elevance Health in the first quarter worth $25,000. BDO Wealth Advisors LLC increased its holdings in shares of Elevance Health by 266.7% in the second quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock worth $25,000 after purchasing an additional 40 shares during the period. Fortis Capital Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth $29,000. TD Capital Management LLC bought a new position in shares of Elevance Health in the fourth quarter worth $30,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Elevance Health by 110.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 52 shares during the period. Institutional investors own 87.80% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 64 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $454.35, for a total value of $29,078.40. Following the completion of the sale, the chief accounting officer now directly owns 2,842 shares in the company, valued at $1,291,262.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $547.00 price target on shares of Elevance Health in a report on Thursday, October 19th. TD Cowen increased their target price on Elevance Health from $564.00 to $585.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Morgan Stanley increased their target price on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $572.00 target price on shares of Elevance Health in a research note on Thursday, July 20th. Finally, StockNews.com assumed coverage on Elevance Health in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $564.27.

Elevance Health Stock Performance

Elevance Health stock opened at $463.61 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $450.58 and a 200-day moving average of $453.79. The firm has a market cap of $108.93 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $544.01.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, October 18th. The company reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.45 by $0.54. The company had revenue of $42.48 billion during the quarter, compared to analyst estimates of $42.69 billion. Elevance Health had a net margin of 3.61% and a return on equity of 20.71%. Elevance Health’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $7.53 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 33.07 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be issued a $1.48 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $5.92 annualized dividend and a yield of 1.28%. Elevance Health’s dividend payout ratio (DPR) is presently 23.24%.

About Elevance Health

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.