PharVision Advisers LLC Invests $369,000 in Elevance Health, Inc. $ELV

PharVision Advisers LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 849 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the period. Orbis Allan Gray Ltd raised its holdings in shares of Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after purchasing an additional 680,228 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Elevance Health by 9.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company’s stock worth $867,713,000 after purchasing an additional 199,550 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Elevance Health by 1.2% in the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after purchasing an additional 24,833 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Elevance Health by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock worth $845,394,000 after purchasing an additional 29,174 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 1.9%

Elevance Health stock opened at $313.79 on Friday. The firm has a market cap of $70.66 billion, a PE ratio of 13.35, a P/E/G ratio of 1.13 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s 50 day moving average price is $312.04 and its two-hundred day moving average price is $373.45. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $559.95.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.12 EPS. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s payout ratio is currently 29.11%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. Leerink Partners reiterated a “market perform” rating and issued a $310.00 target price (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Argus reaffirmed a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. UBS Group decreased their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday. Guggenheim decreased their price objective on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Finally, Barclays raised their price objective on shares of Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $411.06.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gail Boudreaux bought 8,500 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Elevance Health Company 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.