New England Research & Management Inc. Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

New England Research & Management Inc. lifted its position in Elevance Health, Inc. (NYSE:ELV) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,025 shares of the company’s stock after purchasing an additional 125 shares during the quarter. New England Research & Management Inc.’s holdings in Elevance Health were worth $1,050,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sanders Capital LLC lifted its position in Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after buying an additional 196,010 shares during the last quarter. Capital International Investors lifted its position in Elevance Health by 7.9% in the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock valued at $1,591,237,000 after buying an additional 248,150 shares during the last quarter. Baillie Gifford & Co. lifted its position in Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after buying an additional 27,986 shares during the last quarter. Norges Bank acquired a new position in Elevance Health in the fourth quarter valued at about $1,347,434,000. Finally, Morgan Stanley lifted its position in Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after buying an additional 46,322 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.1 %

ELV stock opened at $541.92 on Friday. The firm has a market capitalization of $125.95 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company’s 50 day moving average price is $534.36 and its 200 day moving average price is $508.67.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $9.46 earnings per share. On average, equities research analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were paid a $1.63 dividend. The ex-dividend date was Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research report on Wednesday, June 12th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Morgan Stanley began coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Bank of America increased their price target on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Barclays increased their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Buy” and a consensus price target of $611.36.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by 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.