Moors & Cabot Inc. increased its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 20.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,569 shares of the company’s stock after buying an additional 271 shares during the period. Moors & Cabot Inc.’s holdings in Elevance Health were worth $697,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Elevance Health by 97,501.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 83,475,802 shares of the company’s stock worth $37,087,464,000 after purchasing an additional 83,390,275 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Elevance Health by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,277,170 shares of the company’s stock worth $6,104,976,000 after purchasing an additional 551,614 shares in the last quarter. Geode Capital Management LLC lifted its stake in Elevance Health by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 4,278,337 shares of the company’s stock worth $1,962,387,000 after purchasing an additional 59,126 shares in the last quarter. Sanders Capital LLC lifted its stake in Elevance Health by 3.5% in the 1st quarter. Sanders Capital LLC now owns 4,017,654 shares of the company’s stock worth $1,847,357,000 after purchasing an additional 135,877 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Elevance Health by 12.9% in the 1st quarter. Ameriprise Financial Inc. now owns 3,622,916 shares of the company’s stock worth $1,664,416,000 after purchasing an additional 414,592 shares in the last quarter. 87.80% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
ELV has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Cantor Fitzgerald restated an “overweight” rating and set a $547.00 price objective on shares of Elevance Health in a research report on Thursday, October 19th. StockNews.com initiated coverage on shares of Elevance Health in a research report on Thursday, October 5th. They set a “strong-buy” rating on the stock. TD Cowen raised their price objective on shares of Elevance Health from $564.00 to $585.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $565.82.
Elevance Health Price Performance
Shares of Elevance Health stock opened at $462.95 on Friday. The firm has a market cap of $108.77 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $544.01. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $450.86 and its two-hundred day simple moving average is $453.72.
Elevance Health (NYSE:ELV – Get Free Report) last announced its quarterly earnings results on Wednesday, October 18th. The company reported $8.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.45 by $0.54. The business had revenue of $42.48 billion for 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%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $7.53 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 33.07 EPS for the current year.
Elevance Health Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 5th. Elevance Health’s payout ratio is 23.24%.
In other news, CAO Ronald W. Penczek sold 64 shares of Elevance Health stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $454.35, for a total transaction of $29,078.40. Following the sale, the chief accounting officer now owns 2,842 shares of the company’s stock, valued at approximately $1,291,262.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.
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.
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