Alesco Advisors LLC An ESL Co Takes $1.05 Million Position in Elevance Health, Inc. $ELV

Alesco Advisors LLC An ESL Co bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,576 shares of the company’s stock, valued at approximately $1,047,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after buying an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after acquiring an additional 1,607,274 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after acquiring an additional 455,946 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Elevance Health by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after purchasing an additional 24,271 shares during the period. Finally, Invesco Ltd. boosted its holdings in Elevance Health by 50.3% in the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after purchasing an additional 1,306,390 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.9%

ELV opened at $393.46 on Wednesday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market capitalization of $85.33 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. The business’s 50-day simple moving average is $399.56 and its 200-day simple moving average is $355.93.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the previous year, the company posted $8.84 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Analysts anticipate that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research note on Tuesday, July 7th. Morgan Stanley boosted their price target on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Cantor Fitzgerald raised their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.