USS Investment Management Ltd Grows Stock Position in Elevance Health, Inc. $ELV

USS Investment Management Ltd boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 37,871 shares of the company’s stock after acquiring an additional 1,689 shares during the period. USS Investment Management Ltd’s holdings in Elevance Health were worth $11,093,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health in the fourth quarter valued at approximately $32,000. ORG Partners LLC raised its holdings in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after acquiring an additional 59 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Elevance Health in the fourth quarter worth approximately $38,000. Finally, Dorato Capital Management purchased a new position in Elevance Health in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by insiders.

Elevance Health Stock Up 7.4%

ELV opened at $415.51 on Thursday. The stock has a market capitalization of $90.23 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $426.98. The business’s 50-day simple moving average is $387.70 and its 200-day simple moving average is $350.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts anticipate that Elevance Health, Inc. will post 26.86 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.72 per share. The ex-dividend date was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Bank of America boosted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Robert W. Baird increased their target price on Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Finally, Truist Financial lifted their price target on Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.