Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Empirical Finance LLC

15 Nov 2024, 17:34 by Mitch Edgeman · The Markets Daily

Empirical Finance LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,327 shares of the company’s stock after purchasing an additional 180 shares during the quarter. Empirical Finance LLC’s holdings in Elevance Health were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT increased its stake in shares of Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after acquiring an additional 3,786 shares during the last quarter. International Assets Investment Management LLC increased its position in 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 worth $276,972,000 after purchasing an additional 532,016 shares during the last quarter. abrdn plc raised its stake in Elevance Health by 32.2% during the third quarter. abrdn plc now owns 360,134 shares of the company’s stock worth $186,540,000 after purchasing an additional 87,717 shares during the period. Blair William & Co. IL boosted its holdings in shares of Elevance Health by 119.7% in the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares during the last quarter. Finally, AMI Investment Management Inc. purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $1,294,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research analyst reports. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Cantor Fitzgerald dropped their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Read Our Latest Research Report on ELV

Elevance Health Trading Down 0.1 %

ELV opened at $406.77 on Friday. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $94.34 billion, a PE ratio of 14.84, a P/E/G ratio of 1.22 and a beta of 0.85. The firm’s fifty day moving average price is $480.88 and its 200 day moving average price is $515.30.

Elevance Health (NYSE:ELV – Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $43.47 billion. During the same period in the prior year, the firm earned $8.99 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed 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 of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Buying and Selling at Elevance Health

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 transaction 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 $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by insiders.

Elevance Health Company Profile

(Free Report)

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.