Ensign Peak Advisors Inc Acquires 2,862 Shares of Elevance Health, Inc. (NYSE:ELV)

Ensign Peak Advisors Inc boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,115 shares of the company’s stock after purchasing an additional 2,862 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Elevance Health were worth $32,574,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank & Trust Co bought a new stake in Elevance Health in the 2nd quarter valued at about $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health in the fourth quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health during the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health during the second quarter worth approximately $28,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Elevance Health in the 2nd quarter worth $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ELV. Stephens restated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th. Robert W. Baird initiated coverage on shares of Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target on the stock. Truist Financial lifted their price target on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada increased their price objective on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, Bank of America reaffirmed a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by company insiders.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $539.86 on Monday. The company has a market capitalization of $125.47 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company’s 50-day moving average is $536.19 and its 200 day moving average is $529.47. 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 fifty-two week low of $431.38 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $42.99 billion. During the same quarter last year, the business posted $9.04 EPS. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. Elevance Health’s payout ratio is 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.