Elevance Health, Inc. $ELV Stock Holdings Increased by Sanders Capital LLC

Sanders Capital LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 24.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,825,208 shares of the company’s stock after acquiring an additional 1,152,440 shares during the period. Elevance Health comprises approximately 3.0% of Sanders Capital LLC’s holdings, making the stock its 11th largest holding. Sanders Capital LLC owned about 2.59% of Elevance Health worth $2,265,773,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. Vanguard Group Inc. grew its holdings in shares of Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after purchasing an additional 666,534 shares during the last quarter. Orbis Allan Gray Ltd grew its position in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after buying an additional 324,040 shares during the period. Invesco Ltd. boosted its position in shares of Elevance Health by 1.2% during the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after buying an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in 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 buying an additional 29,174 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ELV. JPMorgan Chase & Co. raised their price target on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Mizuho cut their target price on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Truist Financial set a $400.00 target price on Elevance Health in a research note on Tuesday, October 14th. Robert W. Baird dropped their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Finally, Wells Fargo & Company reduced their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $397.33.

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $325.94 on Friday. The business’s 50 day moving average is $329.73 and its 200-day moving average is $341.33. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The firm has a market capitalization of $72.44 billion, a PE ratio of 13.33, a PEG ratio of 1.23 and a beta of 0.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.37 earnings per share. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

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.