Elevance Health, Inc. (NYSE:ELV) Shares Bought by AustralianSuper Pty Ltd

by · The Markets Daily

AustralianSuper Pty Ltd boosted its position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 7.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 8,505 shares of the company’s stock after acquiring an additional 607 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Elevance Health were worth $4,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares in the last quarter. Iridian Asset Management LLC CT boosted its holdings in Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares in the last quarter. abrdn plc grew its position in Elevance Health by 32.2% during the third quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after buying an additional 87,717 shares during the period. Blair William & Co. IL increased its holdings in Elevance Health by 119.7% in the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after buying an additional 6,610 shares in the last quarter. Finally, AMI Investment Management Inc. purchased a new stake in shares of Elevance Health during the third quarter worth approximately $1,294,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Down 1.2 %

Shares of NYSE ELV opened at $405.83 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The business has a 50-day moving average price of $504.60 and a 200 day moving average price of $521.93. The stock has a market cap of $94.32 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $8.99 EPS. Equities research analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.61%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reduced their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. UBS Group cut their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Barclays lowered their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial reissued a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $551.07.

Read Our Latest Analysis on ELV

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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