Lighthouse Investment Partners LLC Increases Stake in Elevance Health, Inc. (NYSE:ELV)

Lighthouse Investment Partners LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,363 shares of the company’s stock after buying an additional 1,712 shares during the period. Lighthouse Investment Partners LLC’s holdings in Elevance Health were worth $7,241,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in shares of Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after buying an additional 190,118 shares during the period. Capital International Investors increased its stake in shares of Elevance Health by 3.7% during the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after buying an additional 123,802 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after purchasing an additional 275,708 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Elevance Health by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,867,551 shares of the company’s stock valued at $1,011,888,000 after purchasing an additional 23,872 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $520.28 on Friday. The business’s 50 day moving average price is $536.06 and its 200 day moving average price is $529.74. The firm has a market cap of $120.92 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 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 analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.04 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s payout ratio is presently 24.64%.

Wall Street Analyst Weigh In

ELV has been the topic of several analyst reports. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Stephens reiterated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company cut their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Barclays cut their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $604.29.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is owned by company insiders.

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.