BLI Banque de Luxembourg Investments Invests $2.29 Million in Elevance Health, Inc. $ELV

BLI Banque de Luxembourg Investments acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,000 shares of the company’s stock, valued at approximately $2,288,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. WPG Advisers LLC bought a new position in shares of Elevance Health in the first quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC grew its stake in Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in Elevance Health in the 2nd quarter worth $32,000. Saudi Central Bank bought a new position in Elevance Health in the 1st quarter worth $40,000. Finally, Glass Jacobson Investment Advisors llc lifted its position in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ELV. Wells Fargo & Company lowered their price target on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Sanford C. Bernstein lowered their target price on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Truist Financial set a $400.00 price objective on Elevance Health in a research report on Tuesday, October 14th. Finally, Barclays lowered their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Hold” and a consensus target price of $398.44.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $332.15 on Monday. The firm has a market capitalization of $73.82 billion, a PE ratio of 13.58, a PEG ratio of 1.23 and a beta of 0.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The business’s 50 day moving average is $333.18 and its 200-day moving average is $335.35.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is 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.