New England Research & Management Inc. Acquires 125 Shares of Elevance Health, Inc. (NYSE:ELV)

New England Research & Management Inc. increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 6.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,025 shares of the company’s stock after buying an additional 125 shares during the period. New England Research & Management Inc.’s holdings in Elevance Health were worth $1,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sanders Capital LLC lifted its stake in Elevance Health by 4.6% in the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after purchasing an additional 196,010 shares in the last quarter. Capital International Investors lifted its stake in Elevance Health by 7.9% in the 4th quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after purchasing an additional 248,150 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after purchasing an additional 27,986 shares in the last quarter. Norges Bank purchased a new stake in Elevance Health in the 4th quarter worth approximately $1,347,434,000. Finally, Morgan Stanley lifted its stake in Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after purchasing an additional 46,322 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ELV. Robert W. Baird began coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Wednesday, June 12th. Finally, Jefferies Financial Group raised their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Buy” and a consensus target price of $611.36.

Insiders Place Their Bets

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

Elevance Health Price Performance

ELV stock opened at $541.92 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The firm’s fifty day moving average is $534.36 and its 200 day moving average is $508.67. The firm has a market cap of $125.95 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm earned $9.46 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 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.