Baillie Gifford & Co. Has $1.44 Billion Stake in Elevance Health, Inc. (NYSE:ELV)

Baillie Gifford & Co. trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,769,568 shares of the company’s stock after selling 94,714 shares during the period. Elevance Health comprises about 1.1% of Baillie Gifford & Co.’s portfolio, making the stock its 22nd largest position. Baillie Gifford & Co. owned about 1.19% of Elevance Health worth $1,440,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in shares of Elevance Health by 5.3% in the 2nd 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 last quarter. Capital International Investors boosted 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 worth $1,814,118,000 after acquiring an additional 123,802 shares during the period. Legal & General Group Plc boosted its stake 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 worth $1,217,607,000 after acquiring an additional 64,376 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Elevance Health by 34.0% during 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 acquiring an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after acquiring an additional 275,708 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $425.39 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The stock has a market cap of $98.66 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 1.26 and a beta of 0.85. The company’s fifty day moving average is $486.59 and its 200 day moving average is $516.91.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the company earned $8.99 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. Elevance Health’s dividend payout ratio is currently 23.77%.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ELV. Truist Financial reaffirmed a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald decreased their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $539.20.

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.