Acadian Asset Management LLC Purchases 183,233 Shares of Elevance Health, Inc. $ELV

Acadian Asset Management LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 5,204.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,754 shares of the company’s stock after buying an additional 183,233 shares during the quarter. Acadian Asset Management LLC owned about 0.08% of Elevance Health worth $72,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. CSM Advisors LLC purchased a new stake in shares of Elevance Health in the second quarter valued at approximately $14,208,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Elevance Health by 4.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 433,887 shares of the company’s stock worth $168,765,000 after purchasing an additional 19,539 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Elevance Health by 57.0% during the second quarter. Parkside Financial Bank & Trust now owns 702 shares of the company’s stock worth $273,000 after buying an additional 255 shares in the last quarter. Keystone Financial Services lifted its stake in Elevance Health by 17.6% in the 2nd quarter. Keystone Financial Services now owns 1,739 shares of the company’s stock worth $676,000 after purchasing an additional 260 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Elevance Health by 354.7% in the second quarter. Los Angeles Capital Management LLC now owns 5,156 shares of the company’s stock valued at $2,005,000 after purchasing an additional 4,022 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Guggenheim upped their target price on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Barclays reduced their target price on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Robert W. Baird dropped their price target on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Finally, Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $397.33.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 1.0%

ELV stock opened at $317.51 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a fifty day moving average price of $329.41 and a two-hundred day moving average price of $344.28. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The firm has a market cap of $70.56 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $8.37 earnings per share. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. Elevance Health’s dividend payout ratio is currently 27.96%.

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.