Bamco Inc. NY Has $4.67 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Bamco Inc. NY lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 34.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,000 shares of the company’s stock after buying an additional 2,300 shares during the quarter. Bamco Inc. NY’s holdings in Elevance Health were worth $4,667,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Richwood Investment Advisors LLC raised its stake in Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after purchasing an additional 20 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after purchasing an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. raised its position in shares of Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after buying an additional 20 shares in the last quarter. Finally, HF Advisory Group LLC raised its position in shares of Elevance Health by 0.7% in the 1st quarter. HF Advisory Group LLC now owns 2,983 shares of the company’s stock valued at $1,547,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.3 %

ELV traded up $1.80 during trading on Monday, reaching $529.30. 537,193 shares of the company’s stock were exchanged, compared to its average volume of 1,061,755. Elevance Health, Inc. has a one year low of $431.38 and a one year 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 capitalization of $122.74 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.17 and a beta of 0.84. The firm has a fifty day moving average price of $530.22 and a two-hundred day moving average price of $516.31.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating 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 company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period in the prior year, the firm posted $9.04 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction 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 disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELV. Bank of America restated a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Royal Bank of Canada boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Truist Financial lifted their price target on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, July 15th. Mizuho lifted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $604.29.

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.