Elevance Health, Inc. $ELV Shares Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,853 shares of the company’s stock after acquiring an additional 2,265 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Elevance Health were worth $6,944,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Hemington Wealth Management increased its holdings in shares of Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after purchasing an additional 27 shares during the period. Aspen Investment Management Inc increased its stake in Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after buying an additional 27 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in shares of Elevance Health by 5.3% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock worth $261,000 after buying an additional 30 shares in the last quarter. Regatta Capital Group LLC lifted its stake in shares of Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after acquiring an additional 30 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Elevance Health by 1.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $338.61 on Thursday. The company has a market capitalization of $75.25 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a fifty day moving average of $332.35 and a 200-day moving average of $336.49. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

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

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ELV shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Elevance Health in a research note on Monday. Barclays lowered their price target on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Mizuho cut their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Sanford C. Bernstein decreased their target price on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Finally, Guggenheim lifted their target price on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Hold” and an average target price of $398.44.

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.