UniSuper Management Pty Ltd Has $2.62 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

UniSuper Management Pty Ltd lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 160.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,053 shares of the company’s stock after buying an additional 3,114 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Elevance Health were worth $2,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Bahl & Gaynor Inc. acquired a new position in shares of Elevance Health in the 1st quarter worth approximately $207,000. Covestor Ltd increased its holdings in Elevance Health by 14.1% during the 1st quarter. Covestor Ltd now owns 493 shares of the company’s stock valued at $256,000 after purchasing an additional 61 shares in the last quarter. Cynosure Group LLC acquired a new stake in Elevance Health during the 1st quarter valued at $322,000. Edgestream Partners L.P. acquired a new stake in Elevance Health during the 1st quarter valued at $698,000. Finally, Cornerstone Advisors LLC increased its holdings in Elevance Health by 1.7% during the 1st quarter. Cornerstone Advisors LLC now owns 12,000 shares of the company’s stock valued at $6,222,000 after purchasing an additional 200 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated 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 sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $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 Analysts Forecast Growth

A number of equities research analysts recently weighed in on ELV shares. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Mizuho raised their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a report on Tuesday. Stephens reissued an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Tuesday, June 11th. Finally, Barclays lowered their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company 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 presently has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Trading Down 0.3 %

Shares of NYSE:ELV traded down $1.47 during midday trading on Tuesday, hitting $502.42. The company had a trading volume of 950,915 shares, compared to its average volume of 1,060,953. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. 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 stock has a market cap of $116.51 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.11 and a beta of 0.84. The firm has a fifty day simple moving average of $531.78 and a 200 day simple moving average of $515.54.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $9.04 earnings per share. On average, analysts predict that Elevance Health, Inc. will post 37.25 EPS 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 issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.30%. Elevance Health’s dividend payout ratio is presently 24.64%.

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.