Candriam S.C.A. Buys 13,638 Shares of Elevance Health, Inc. $ELV

Candriam S.C.A. increased its stake in Elevance Health, Inc. (NYSE:ELV) by 25.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,469 shares of the company’s stock after acquiring an additional 13,638 shares during the period. Candriam S.C.A.’s holdings in Elevance Health were worth $26,244,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares in the last quarter. Orbis Allan Gray Ltd grew its position in Elevance Health by 31.4% during the first 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 acquiring an additional 324,040 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Elevance Health by 1.2% in the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after acquiring an additional 24,833 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Elevance Health by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after purchasing an additional 29,174 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $328.16 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market cap of $72.93 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.23 and a beta of 0.60. The business’s 50 day moving average price is $329.49 and its 200-day moving average price is $342.44.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $8.37 earnings per share. On average, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of analyst reports. Truist Financial set a $400.00 target price on shares of Elevance Health in a research report on Tuesday, October 14th. Weiss Ratings lowered Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Bank of America boosted their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Cowen restated a “buy” rating on shares of Elevance Health in a report on Thursday, October 23rd. Finally, TD Cowen lifted their target price on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Hold” and an average price target of $397.33.

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.