Elevance Health, Inc. $ELV Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 20.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 671,321 shares of the company’s stock after acquiring an additional 116,000 shares during the quarter. Russell Investments Group Ltd.’s holdings in Elevance Health were worth $261,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Elevance Health in the 2nd quarter worth $7,344,424,000. State Street Corp lifted its position in shares of Elevance Health by 1.3% in the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after purchasing an additional 137,914 shares during the period. Wellington Management Group LLP boosted its stake in shares of Elevance Health by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after purchasing an additional 984,976 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Elevance Health by 1.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock valued at $1,619,701,000 after purchasing an additional 55,905 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Elevance Health during the second quarter valued at about $1,246,349,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $430.16 on Friday. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $450.69. The stock has a market cap of $92.94 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.05 and a beta of 0.63. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $415.11 and its 200-day moving average price is $374.67.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.71 by $2.28. The firm had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.03 EPS. On average, equities analysts expect that Elevance Health, Inc. will post 29.15 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $6.88 annualized dividend and a yield of 1.6%. Elevance Health’s payout ratio is presently 29.34%.

Analyst Ratings Changes

A number of research firms recently issued reports on ELV. Mizuho set a $490.00 price target on shares of Elevance Health in a research note on Friday, October 23rd. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research report on Thursday, July 16th. UBS Group upped their target price on Elevance Health from $460.00 to $523.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Finally, Leerink Partners increased their target price on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $456.48.

Insider Activity

In other Elevance Health news, EVP Ratnakar Lavu sold 1,300 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $440.00, for a total value of $572,000.00. Following the sale, the executive vice president owned 14,849 shares in the company, valued at approximately $6,533,560. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Kaye sold 10,584 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the transaction, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This represents a 34.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.34% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.