Beutel Goodman & Co Ltd. Acquires Shares of 753,653 Elevance Health, Inc. $ELV

Beutel Goodman & Co Ltd. acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 753,653 shares of the company’s stock, valued at approximately $293,141,000. Beutel Goodman & Co Ltd. owned approximately 0.33% of Elevance Health as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Elevance Health during the 1st quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC boosted its stake in Elevance Health by 94.9% during the second 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 stake in Elevance Health in the second quarter worth $32,000. Saudi Central Bank purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $40,000. Finally, Glass Jacobson Investment Advisors llc increased its stake in Elevance Health by 400.0% during the second 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 hedge funds and other institutional investors.

Elevance Health Stock Up 0.9%

Shares of NYSE ELV opened at $333.57 on Friday. The business’s fifty day simple moving average is $333.98 and its 200-day simple moving average is $334.40. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market cap of $74.13 billion, a P/E ratio of 13.64, a PEG ratio of 1.53 and a beta of 0.52. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last released 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 the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.37 EPS. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $1.71 dividend. 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 dividend payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ELV shares. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. UBS Group decreased their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Morgan Stanley boosted their price target on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, November 29th. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.44.

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.