Elevance Health, Inc. $ELV Shares Bought by Baupost Group LLC MA

Baupost Group LLC MA increased its stake in Elevance Health, Inc. (NYSE:ELV) by 150.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 616,000 shares of the company’s stock after acquiring an additional 370,000 shares during the quarter. Elevance Health makes up 5.8% of Baupost Group LLC MA’s holdings, making the stock its 10th largest holding. Baupost Group LLC MA owned about 0.27% of Elevance Health worth $239,599,000 as of its most recent filing with the Securities & Exchange Commission.

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

Elevance Health Price Performance

Shares of NYSE:ELV opened at $330.34 on Friday. The business’s 50 day moving average is $334.22 and its 200-day moving average is $333.89. 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 firm has a market capitalization of $73.41 billion, a PE ratio of 13.51, a PEG ratio of 1.54 and a beta of 0.52. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

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

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors 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 dividend payout ratio (DPR) is 27.96%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ELV. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Bank of America lifted their price objective on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Mizuho cut their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. UBS Group lowered their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Finally, Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $398.44.

About Elevance Health

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.