Bayesian Capital Management LP Acquires 1,561 Shares of Elevance Health, Inc. (NYSE:ELV)

Bayesian Capital Management LP boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 164.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,510 shares of the company’s stock after purchasing an additional 1,561 shares during the period. Bayesian Capital Management LP’s holdings in Elevance Health were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ELV. Pinnacle Associates Ltd. grew its position in shares of Elevance Health by 2.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 3,228 shares of the company’s stock valued at $1,522,000 after acquiring an additional 89 shares during the period. Claro Advisors LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth about $223,000. Chicago Capital LLC lifted its stake in shares of Elevance Health by 244.2% during the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after buying an additional 4,986 shares during the last quarter. JB Capital LLC lifted its stake in shares of Elevance Health by 8.7% during the 4th quarter. JB Capital LLC now owns 1,195 shares of the company’s stock worth $564,000 after buying an additional 96 shares during the last quarter. Finally, Retirement Guys Formula LLC lifted its stake in shares of Elevance Health by 11.1% during the 4th quarter. Retirement Guys Formula LLC now owns 2,115 shares of the company’s stock worth $997,000 after buying an additional 212 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ELV. Stephens restated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research note on Tuesday, June 11th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a report on Tuesday, July 23rd. Jefferies Financial Group raised their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, TD Cowen decreased their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $604.29.

Insiders Place Their Bets

In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred 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 approximately $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred 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 approximately $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’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 transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.5 %

ELV opened at $533.49 on Wednesday. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $555.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $123.71 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.18 and a beta of 0.84. The company’s 50 day moving average price is $529.79 and its two-hundred day moving average price is $517.08.

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 analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period in the previous year, the firm posted $9.04 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts predict 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 issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

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.