Elevance Health, Inc. $ELV Shares Acquired by Intrust Bank NA

Intrust Bank NA raised its position in Elevance Health, Inc. (NYSE:ELV) by 5.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,248 shares of the company’s stock after acquiring an additional 209 shares during the quarter. Intrust Bank NA’s holdings in Elevance Health were worth $1,652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. Vanguard Group Inc. increased its holdings in Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after buying an additional 666,534 shares during the last quarter. Sanders Capital LLC lifted its position in shares of Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Orbis Allan Gray Ltd grew its position 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 valued at $1,239,276,000 after buying an additional 680,228 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Elevance Health by 13.8% in 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 valued at $1,164,041,000 after acquiring an additional 324,040 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Elevance Health by 1.2% in the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after acquiring an additional 24,833 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock opened at $325.94 on Monday. The company has a market cap of $72.44 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The business has a fifty day moving average of $329.73 and a two-hundred day moving average of $340.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the business earned $8.37 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Bank of America upped their price target on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Guggenheim lifted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Cowen restated a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Twelve research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $397.33.

Insider Activity

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

About Elevance Health

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.