Elevance Health, Inc. $ELV Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,457 shares of the company’s stock after purchasing an additional 25,631 shares during the period. Sei Investments Co. owned about 0.09% of Elevance Health worth $59,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Wellington Management Group LLP raised its position in shares of Elevance Health by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after acquiring an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Elevance Health by 10.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after purchasing an additional 455,946 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after buying an additional 1,306,390 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. TD Cowen increased their target price on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Raymond James Financial set a $450.00 price objective on Elevance Health in a report on Tuesday, July 7th. Finally, Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health Trading Down 0.5%

Shares of Elevance Health stock opened at $377.39 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $81.84 billion, a P/E ratio of 16.77, a PEG ratio of 2.17 and a beta of 0.67. The company’s fifty day moving average is $398.69 and its two-hundred day moving average is $356.52.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same period in the prior year, the company earned $8.84 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Analysts forecast that Elevance Health, Inc. will post 27.04 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is 30.58%.

Elevance Health Company 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.