Kentucky Farm Bureau Mutual Insurance Co Purchases New Stake in Elevance Health, Inc. $ELV

Kentucky Farm Bureau Mutual Insurance Co acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,000 shares of the company’s stock, valued at approximately $3,094,000.

A number of other large investors also recently made changes to their positions in the business. M&T Bank Corp lifted its holdings in shares of Elevance Health by 160.4% during the 4th quarter. M&T Bank Corp now owns 50,486 shares of the company’s stock valued at $17,698,000 after buying an additional 31,101 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Elevance Health during the second quarter valued at $970,000. Solidarity Wealth LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $1,433,000. Manning & Napier Advisors LLC increased its stake in shares of Elevance Health by 1,423.1% in the 4th quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company’s stock valued at $129,152,000 after acquiring an additional 344,237 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Elevance Health during the 2nd quarter valued at $1,765,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

ELV has been the topic of several recent research reports. Morgan Stanley increased their price objective on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Bank of America increased their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Royal Bank Of Canada dropped their target price on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research note on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Price Performance

NYSE ELV opened at $398.53 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The company has a market cap of $86.43 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The firm’s 50-day simple moving average is $394.87 and its two-hundred day simple moving average is $359.27.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the company earned $8.84 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.