Boston Common Asset Management LLC Acquires Shares of 12,089 Elevance Health, Inc. (NYSE:ELV)

by · The Cerbat Gem

Boston Common Asset Management LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,089 shares of the company’s stock, valued at approximately $6,286,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc boosted its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after acquiring an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after acquiring an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. boosted its holdings in shares of Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares in the last quarter. American Trust boosted its holdings in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in shares of Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock worth $315,000 after acquiring an additional 21 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Bank of America restated a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Truist Financial boosted their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. TD Cowen dropped their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, Morgan Stanley assumed coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of “Buy” and a consensus price target of $605.07.

Read Our Latest Stock Analysis on Elevance Health

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $492.18 on Friday. The company has a market capitalization of $114.39 billion, a PE ratio of 18.60, a PEG ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 12 month low of $435.99 and a 12 month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $533.40 and its 200 day simple moving average is $529.32.

Elevance Health (NYSE:ELV – Get Free Report) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $9.04 EPS. On average, research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is owned by company insiders.

Elevance Health Profile

(Free Report)

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.

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