Border to Coast Pensions Partnership Ltd Purchases 2,471 Shares of Elevance Health, Inc. (NYSE:ELV)

Border to Coast Pensions Partnership Ltd boosted its position in Elevance Health, Inc. (NYSE:ELV) by 4.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 57,925 shares of the company’s stock after purchasing an additional 2,471 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Elevance Health were worth $30,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in shares of Elevance Health by 5.3% during the 2nd 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 boosted its stake in Elevance Health by 3.7% in the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after acquiring an additional 123,802 shares during the last quarter. Legal & General Group Plc grew its position in shares of Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after acquiring an additional 64,376 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 purchasing an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC increased its position 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 worth $1,115,301,000 after buying an additional 275,708 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In related 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 value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 1.4 %

Shares of NYSE ELV traded down $6.04 during trading hours on Monday, hitting $424.73. The company’s stock had a trading volume of 997,900 shares, compared to its average volume of 1,078,164. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The stock has a market cap of $98.71 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The business has a 50-day simple moving average of $526.74 and a 200-day simple moving average of $527.81.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the firm posted $8.99 earnings per share. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.54%. Elevance Health’s dividend payout ratio is 24.64%.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a report on Friday. Morgan Stanley started coverage on Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective on the stock. Finally, UBS Group cut their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $565.27.

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.