Numerai GP LLC Makes New $767,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Numerai GP LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,078 shares of the company’s stock, valued at approximately $767,000.

Several other large investors have also modified their holdings of the business. Occudo Quantitative Strategies LP acquired a new stake in Elevance Health during the 4th quarter valued at $3,532,000. OMERS ADMINISTRATION Corp increased its position in Elevance Health by 0.5% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 310,424 shares of the company’s stock worth $114,515,000 after purchasing an additional 1,581 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Elevance Health by 8.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,815 shares of the company’s stock valued at $14,688,000 after purchasing an additional 2,991 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Elevance Health by 18.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 658,658 shares of the company’s stock valued at $242,979,000 after purchasing an additional 102,306 shares in the last quarter. Finally, Humankind Investments LLC boosted its stake in shares of Elevance Health by 42.4% during the 4th quarter. Humankind Investments LLC now owns 1,695 shares of the company’s stock worth $625,000 after purchasing an additional 505 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock opened at $376.04 on Thursday. The company’s fifty day moving average price is $423.27 and its two-hundred day moving average price is $403.95. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market capitalization of $84.96 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.82%. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Robert W. Baird reissued a “neutral” rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Guggenheim reaffirmed a “buy” rating and set a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $510.38.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company’s stock.

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.