Border to Coast Pensions Partnership Ltd Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Border to Coast Pensions Partnership Ltd boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 57,925 shares of the company’s stock after acquiring an additional 2,471 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Elevance Health were worth $30,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. New Mexico Educational Retirement Board raised its position in Elevance Health by 14.6% in the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after acquiring an additional 1,800 shares during the period. Blair William & Co. IL grew its holdings in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares during the period. AMI Investment Management Inc. purchased a new stake in Elevance Health in the third quarter worth about $1,294,000. Artemis Investment Management LLP lifted its holdings in Elevance Health by 16.1% during the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock valued at $43,422,000 after purchasing an additional 11,627 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Elevance Health during the 2nd quarter valued at $5,837,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ELV shares. Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a report on Friday. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley started coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. Finally, Bank of America reissued a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $565.27.

Elevance Health Trading Down 1.4 %

NYSE:ELV traded down $6.04 during midday trading on Monday, hitting $424.73. The stock had a trading volume of 997,900 shares, compared to its average volume of 1,078,164. The stock has a 50-day moving average of $526.74 and a 200 day moving average of $527.81. The company has a market capitalization of $98.71 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $8.99 earnings per share. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.54%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.