Kennedy Capital Management LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 6,381 shares of the company’s stock, valued at approximately $3,309,000.
Other institutional investors and hedge funds have also modified their holdings of the company. abrdn plc grew its holdings in Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after buying an additional 129,364 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after acquiring an additional 9,199 shares during the last quarter. Canoe Financial LP increased its position in Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Elevance Health in the 4th quarter valued at about $218,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Elevance Health by 114.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.
Insider Activity
In related news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health 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 transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Analysis on Elevance Health
Elevance Health Stock Down 0.6 %
NYSE ELV traded down $3.37 during trading hours on Wednesday, reaching $532.89. 179,497 shares of the company traded hands, compared to its average volume of 1,059,031. The stock has a market capitalization of $123.57 billion, a PE ratio of 20.27, a PEG ratio of 1.18 and a beta of 0.84. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. The company has a 50 day moving average of $529.79 and a two-hundred day moving average of $517.08.
Elevance Health (NYSE:ELV – Get Free Report) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $9.04 earnings per share. As a group, equities analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.
Elevance Health Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Elevance Health’s payout ratio is currently 24.64%.
Elevance Health 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.
Featured Stories
- Five stocks we like better than Elevance Health
- Dividend Capture Strategy: What You Need to Know
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- What Are Dividend Champions? How to Invest in the Champions
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- Do ETFs Pay Dividends? What You Need to Know
- 5 Aggressive Growth Stocks for Long-Term Investors
Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).
Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.