Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Barden Capital Management Inc.

Barden Capital Management Inc. increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,251 shares of the company’s stock after buying an additional 98 shares during the period. Elevance Health comprises approximately 1.9% of Barden Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Barden Capital Management Inc.’s holdings in Elevance Health were worth $2,211,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board lifted its holdings in Elevance Health by 14.6% during the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after purchasing an additional 1,800 shares in the last quarter. Blair William & Co. IL lifted its stake in Elevance Health by 119.7% in the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after buying an additional 6,610 shares in the last quarter. AMI Investment Management Inc. purchased a new position in Elevance Health in the 3rd quarter valued at about $1,294,000. Artemis Investment Management LLP boosted its holdings in Elevance Health by 16.1% in the 1st quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock worth $43,422,000 after buying an additional 11,627 shares during the last quarter. Finally, BDF Gestion acquired a new position in shares of Elevance Health during the second quarter valued at approximately $5,837,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 3.1 %

Shares of ELV opened at $430.77 on Monday. The company’s 50-day moving average price is $526.74 and its 200 day moving average price is $527.81. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market cap of $100.12 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the firm posted $8.99 earnings per share. Elevance Health’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.51%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ELV shares. Truist Financial reaffirmed a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research note on Friday. UBS Group dropped their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday. Finally, TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $572.27.

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.