Perpetual Ltd Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Perpetual Ltd lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 520,939 shares of the company’s stock after purchasing an additional 28,177 shares during the period. Elevance Health comprises approximately 2.6% of Perpetual Ltd’s portfolio, making the stock its 5th largest holding. Perpetual Ltd’s holdings in Elevance Health were worth $270,128,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ELV. Sanders Capital LLC grew its stake in shares of Elevance Health by 4.6% in the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after purchasing an additional 196,010 shares during the last quarter. Capital International Investors grew its stake in shares of Elevance Health by 7.9% in the 4th quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after purchasing an additional 248,150 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after purchasing an additional 27,986 shares during the last quarter. Norges Bank acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $1,347,434,000. Finally, Morgan Stanley grew its stake in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after purchasing an additional 46,322 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $7.48 during trading on Thursday, reaching $534.79. The stock had a trading volume of 843,880 shares, compared to its average volume of 1,032,028. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The firm has a market capitalization of $124.30 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $530.65 and a two-hundred day simple moving average of $506.05.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm posted $9.46 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Wednesday, June 12th. Mizuho raised their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Bank of America raised their target price on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $607.36.

Elevance Health 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.