Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Prudential PLC

Prudential PLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,850 shares of the company’s stock after acquiring an additional 1,571 shares during the period. Prudential PLC’s holdings in Elevance Health were worth $17,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Richwood Investment Advisors LLC boosted its holdings in Elevance Health by 0.8% during the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after acquiring an additional 20 shares during the period. Bell Investment Advisors Inc boosted its stake in Elevance Health by 2.1% during the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares during the period. Capital Advisors Ltd. LLC grew its holdings in Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. lifted its holdings in shares of Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after buying an additional 20 shares during the last quarter. Finally, American Trust boosted its position in shares of Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Elevance Health stock opened at $541.91 on Monday. The business’s 50-day simple moving average is $533.79 and its 200 day simple moving average is $526.73. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a market cap of $125.66 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $9.04 EPS. As a group, research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

A number of brokerages have commented on ELV. JPMorgan Chase & Co. raised their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Stephens reaffirmed an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a report on Thursday. Truist Financial increased their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. TD Cowen cut their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was 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 $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated 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 directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 in the last 90 days. 0.35% of the stock is owned by company insiders.

About Elevance Health

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.