Calamos Advisors LLC Has $13.19 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Calamos Advisors LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,344 shares of the company’s stock after buying an additional 184 shares during the quarter. Calamos Advisors LLC’s holdings in Elevance Health were worth $13,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Canoe Financial LP grew its position in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after acquiring an additional 517,116 shares during the period. Tower Research Capital LLC TRC raised its stake in Elevance Health by 114.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after buying an additional 16,737 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Elevance Health by 8.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 55,262 shares of the company’s stock valued at $26,060,000 after buying an additional 4,362 shares during the last quarter. Brave Warrior Advisors LLC boosted its stake in shares of Elevance Health by 7.9% during the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock worth $828,367,000 after acquiring an additional 129,055 shares during the period. Finally, New Mexico Educational Retirement Board boosted its stake in shares of Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after acquiring an additional 1,800 shares during the period. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. TD Cowen cut their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Robert W. Baird started coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target on the stock. Bank of America restated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Stephens reiterated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a research note on Tuesday, June 11th. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $604.29.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on 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 sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 0.5 %

Shares of ELV opened at $545.96 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $555.35. The firm has a market cap of $126.89 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.18 and a beta of 0.84. The business’s fifty day moving average is $530.61 and its 200-day moving average is $523.70.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.04 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. Elevance Health’s payout ratio is presently 24.64%.

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.