Bailard Inc. Has $3.34 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Bailard Inc. lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,157 shares of the company’s stock after selling 95 shares during the period. Bailard Inc.’s holdings in Elevance Health were worth $3,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Elevance Health in the fourth quarter worth about $1,347,434,000. Massachusetts Financial Services Co. MA bought a new position in shares of Elevance Health during the 4th quarter worth approximately $467,141,000. Canoe Financial LP boosted its stake in 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 buying an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC bought a new stake in Elevance Health in the fourth quarter valued at $239,244,000. Finally, Focused Investors Fund L P acquired a new position in Elevance Health during the first quarter worth $249,884,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Stephens reissued an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a report on Tuesday, June 11th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Monday, August 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Buy” and an average price target of $604.29.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’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 sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of 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. Insiders sold 35,058 shares of company stock worth $17,588,116 over the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Trading Down 0.2 %

NYSE ELV opened at $544.63 on Tuesday. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. The stock has a 50-day simple moving average of $530.81 and a 200 day simple moving average of $524.00. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $126.58 billion, a PE ratio of 20.58, a P/E/G ratio of 1.18 and a beta of 0.84.

Elevance Health (NYSE:ELV) last announced its quarterly 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. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the prior year, the business posted $9.04 EPS. Elevance Health’s revenue was down .4% on a year-over-year basis. Research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The firm 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 $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. 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.