Elevance Health, Inc. $ELV Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,213 shares of the company’s stock after acquiring an additional 790 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Elevance Health were worth $8,251,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in Elevance Health during the first quarter worth $789,943,000. Orbis Allan Gray Ltd increased its holdings in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares in the last quarter. Vanguard Group Inc. raised its position in Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the last quarter. Boston Partners lifted its stake in Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after buying an additional 605,689 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after buying an additional 324,040 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ELV. Morgan Stanley decreased their price objective on Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. UBS Group reduced their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Mizuho upped their target price on Elevance Health from $342.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $412.00.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Trading Down 1.4%

ELV stock opened at $353.29 on Monday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24. The company has a market cap of $79.55 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.29 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $315.10 and a 200-day simple moving average of $358.17.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.12 earnings per share. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health’s payout ratio is 29.11%.

Elevance Health Company Profile

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.