Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lifted its position in Elevance Health, Inc. (NYSE:ELV) by 9.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,485 shares of the company’s stock after buying an additional 4,844 shares during the period. Loomis Sayles & Co. L P’s holdings in Elevance Health were worth $30,412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pathway Financial Advisers LLC increased its holdings in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after buying an additional 656,344 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. Maj Invest Holding A S acquired a new stake in Elevance Health during the 2nd quarter worth about $173,753,000. Finally, First Eagle Investment Management LLC lifted its stake in Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ELV. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Barclays cut their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Up 1.3 %

Shares of ELV stock opened at $407.59 on Tuesday. The company has a market capitalization of $94.53 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s 50 day simple moving average is $457.79 and its 200 day simple moving average is $507.92. Elevance Health, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the previous year, the business posted $8.99 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.