APG Asset Management US Inc. Purchases 658 Shares of Elevance Health, Inc. (NYSE:ELV)

APG Asset Management US Inc. increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,408 shares of the company’s stock after buying an additional 658 shares during the quarter. APG Asset Management US Inc.’s holdings in Elevance Health were worth $22,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Elevance Health by 114.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after purchasing an additional 16,737 shares in the last quarter. Brave Warrior Advisors LLC raised its stake in shares of Elevance Health by 7.9% in the fourth quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock valued at $828,367,000 after buying an additional 129,055 shares during the period. New Mexico Educational Retirement Board lifted its position in shares of Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after buying an additional 1,800 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Elevance Health by 276.0% during the 4th quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock worth $38,823,000 after acquiring an additional 60,436 shares during the period. Finally, Blair William & Co. IL grew its stake in Elevance Health by 119.7% in the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after buying an additional 6,610 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other 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 directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on 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 sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 in the last three months. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ELV. Barclays dropped their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Bank of America reaffirmed a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a report on Friday, September 20th. Finally, Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $604.29.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $520.49 on Thursday. 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 50-day moving average price of $535.75 and a 200-day moving average price of $529.87. The company has a market cap of $120.70 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $567.26.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were given a dividend of $1.63 per share. The ex-dividend date was Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.25%. 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.