IFM Investors Pty Ltd Grows Stock Holdings in Elevance Health Inc. (NYSE:ELV)

IFM Investors Pty Ltd boosted its holdings in shares of Elevance Health Inc. (NYSE:ELV – Get Rating) by 17.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,346 shares of the company’s stock after purchasing an additional 5,841 shares during the quarter. IFM Investors Pty Ltd’s holdings in Elevance Health were worth $19,328,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Tyler Stone Wealth Management purchased a new stake in Elevance Health during the fourth quarter valued at $41,000. Benjamin Edwards Inc. increased its position in Elevance Health by 145.9% during the fourth quarter. Benjamin Edwards Inc. now owns 91 shares of the company’s stock valued at $42,000 after acquiring an additional 54 shares during the last quarter. Johnson Financial Group Inc. increased its position in Elevance Health by 79.4% during the fourth quarter. Johnson Financial Group Inc. now owns 122 shares of the company’s stock valued at $57,000 after acquiring an additional 54 shares during the last quarter. City State Bank bought a new position in Elevance Health during the fourth quarter valued at $58,000. Finally, Bell Investment Advisors Inc increased its position in Elevance Health by 28.0% during the fourth quarter. Bell Investment Advisors Inc now owns 128 shares of the company’s stock valued at $59,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 84.28% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 420 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $497.14, for a total transaction of $208,798.80. Following the sale, the director now owns 9,491 shares of the company’s stock, valued at approximately $4,718,355.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert L. Dixon, Jr. sold 420 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $497.14, for a total transaction of $208,798.80. Following the sale, the director now owns 9,491 shares of the company’s stock, valued at approximately $4,718,355.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of Elevance Health stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $488.60, for a total transaction of $3,091,860.80. Following the completion of the sale, the executive vice president now directly owns 14,529 shares in the company, valued at approximately $7,098,869.40. The disclosure for this sale can be found here. Insiders have sold 7,738 shares of company stock valued at $3,764,851 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ELV shares. Jefferies Financial Group boosted their price objective on shares of Elevance Health from $575.00 to $625.00 in a research report on Thursday, April 21st. Morgan Stanley cut their price target on shares of Elevance Health from $533.00 to $485.00 and set an “equal weight” rating on the stock in a report on Monday, July 25th. Credit Suisse Group upped their price target on shares of Elevance Health from $518.00 to $584.00 and gave the stock an “outperform” rating in a report on Thursday, April 21st. Wells Fargo & Company cut their price target on shares of Elevance Health from $580.00 to $557.00 and set a “maintains” rating on the stock in a report on Thursday. Finally, Mizuho increased their target price on shares of Elevance Health from $510.00 to $545.00 in a report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $557.15.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $477.10 on Monday. Elevance Health Inc. has a 52 week low of $355.43 and a 52 week high of $533.68. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $114.50 billion, a P/E ratio of 19.13, a PEG ratio of 1.35 and a beta of 0.96. The company has a 50 day moving average price of $481.33 and a 200 day moving average price of $477.47.

Elevance Health (NYSE:ELV – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $8.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.74 by $0.30. Elevance Health had a net margin of 4.09% and a return on equity of 19.20%. The company had revenue of $38.48 billion during the quarter, compared to analyst estimates of $38.05 billion. During the same period last year, the firm posted $7.03 EPS. Elevance Health’s revenue for the quarter was up 15.6% compared to the same quarter last year. Sell-side analysts expect that Elevance Health Inc. will post 28.79 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, September 8th. Elevance Health’s dividend payout ratio is presently 20.53%.

Elevance Health Company Profile

(Get Rating)

Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.