Elevance Health, Inc. (NYSE:ELV) Shares Bought by Candriam S.C.A.

Candriam S.C.A. grew its position in Elevance Health, Inc. (NYSE:ELV) by 64.5% during the 2nd quarter, Holdings Channel reports. The fund owned 130,500 shares of the company’s stock after buying an additional 51,145 shares during the quarter. Candriam S.C.A.’s holdings in Elevance Health were worth $77,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Bank & Trust Co acquired a new position in Elevance Health during the 2nd quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health in the first quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health during the fourth quarter worth $28,000. Finally, Register Financial Advisors LLC purchased a new stake in Elevance Health during the first quarter worth about $32,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was 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 directly owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 over the last quarter. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays decreased their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Robert W. Baird began coverage on Elevance Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $649.00 price target for the company. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Buy” and an average price target of $604.29.

Elevance Health Trading Down 0.3 %

Shares of ELV stock opened at $542.60 on Friday. The company has a market capitalization of $126.11 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.22 and a beta of 0.84. 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 firm has a 50-day moving average price of $533.79 and a 200 day moving average price of $526.48. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26.

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

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Elevance Health 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.