UniSuper Management Pty Ltd Acquires New Shares in Elevance Health, Inc. (NYSE:ELV)

by · The Cerbat Gem

UniSuper Management Pty Ltd acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,241 shares of the company’s stock, valued at approximately $25,876,000.

A number of other institutional investors have also recently bought and sold shares of ELV. J.Safra Asset Management Corp acquired a new stake in Elevance Health during the first quarter valued at $25,000. BDO Wealth Advisors LLC boosted its position in Elevance Health by 266.7% during the second quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock valued at $25,000 after purchasing an additional 40 shares during the last quarter. Fortis Capital Advisors LLC bought a new position in Elevance Health during the fourth quarter valued at about $29,000. TD Capital Management LLC bought a new position in Elevance Health during the fourth quarter valued at about $30,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Elevance Health by 110.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.

Elevance Health Trading Up 0.1 %

Elevance Health stock opened at $481.94 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.41 and a current ratio of 1.41. The business’s 50-day simple moving average is $458.23 and its 200-day simple moving average is $455.22. The firm has a market capitalization of $113.24 billion, a PE ratio of 18.92, a PEG ratio of 1.21 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $544.01.

Elevance Health (NYSE:ELV – Get Free Report) last released its earnings results on Wednesday, October 18th. The company reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.45 by $0.54. Elevance Health had a return on equity of 20.71% and a net margin of 3.61%. The business had revenue of $42.48 billion for the quarter, compared to the consensus estimate of $42.69 billion. During the same period last year, the business earned $7.53 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 33.06 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, December 6th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. StockNews.com initiated coverage on Elevance Health in a report on Thursday, October 5th. They set a “strong-buy” rating on the stock. Morgan Stanley raised their target price on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Cantor Fitzgerald restated an “overweight” rating and set a $547.00 target price on shares of Elevance Health in a report on Tuesday, November 21st. Finally, JPMorgan Chase & Co. cut their target price on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $565.82.

Check Out Our Latest Stock Report on ELV

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 64 shares of Elevance Health stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $454.35, for a total transaction of $29,078.40. Following the sale, the chief accounting officer now directly owns 2,842 shares of the company’s stock, valued at $1,291,262.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

About Elevance Health

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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