Anchor Investment Management LLC Buys 204 Shares of Elevance Health, Inc. (NYSE:ELV)

Anchor Investment Management LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,963 shares of the company’s stock after acquiring an additional 204 shares during the period. Anchor Investment Management LLC’s holdings in Elevance Health were worth $2,689,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in 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 purchasing an additional 190,118 shares during the last quarter. Capital International Investors lifted its stake in shares of Elevance Health by 3.7% during the 1st 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 in the last quarter. Legal & General Group Plc boosted its holdings in Elevance Health by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after buying an additional 64,376 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after buying an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in Elevance Health by 15.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ramiro G. Peru sold 753 shares of the 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 completion of the sale, the director now directly 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 accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly 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 90 days, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Down 1.2 %

Shares of NYSE ELV opened at $505.00 on Thursday. The stock has a market capitalization of $117.37 billion, a P/E ratio of 19.09, a PEG ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a one year low of $431.55 and a one year high of $567.26. The firm’s 50 day simple moving average is $536.89 and its two-hundred day simple moving average is $530.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

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

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were given a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.29%. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELV. TD Cowen dropped their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Barclays cut their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Morgan Stanley began coverage on shares of Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research note on Tuesday. Finally, Royal Bank of Canada boosted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $604.29.

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.