Elevance Health, Inc. $ELV Stock Position Raised by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 354.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,156 shares of the company’s stock after acquiring an additional 4,022 shares during the period. Los Angeles Capital Management LLC’s holdings in Elevance Health were worth $2,005,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Verdence Capital Advisors LLC lifted its position in Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after purchasing an additional 790 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Elevance Health by 17.0% in the 2nd quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after purchasing an additional 3,988 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after purchasing an additional 817 shares in the last quarter. Focus Partners Wealth raised its holdings in Elevance Health by 4.6% during the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after purchasing an additional 982 shares during the last quarter. Finally, Asio Capital LLC grew its stake in shares of Elevance Health by 7.1% in the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after buying an additional 1,015 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $315.06 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a 50-day moving average of $328.95 and a two-hundred day moving average of $342.64. The stock has a market cap of $70.02 billion, a P/E ratio of 12.88, a PEG ratio of 1.23 and a beta of 0.60.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Insider Buying and Selling

In related news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ELV. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Robert W. Baird reduced their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Truist Financial set a $400.00 target price on shares of Elevance Health in a research note on Tuesday, October 14th. Mizuho reduced their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Barclays lowered their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $397.33.

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.