Lighthouse Investment Partners LLC Acquires 1,712 Shares of Elevance Health, Inc. (NYSE:ELV)

Lighthouse Investment Partners LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,363 shares of the company’s stock after buying an additional 1,712 shares during the period. Lighthouse Investment Partners LLC’s holdings in Elevance Health were worth $7,241,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after purchasing an additional 190,118 shares in the last quarter. Capital International Investors boosted its stake in Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after purchasing an additional 123,802 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Elevance Health by 15.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Elevance Health by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,867,551 shares of the company’s stock worth $1,011,888,000 after purchasing an additional 23,872 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.0 %

NYSE ELV opened at $520.28 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market capitalization of $120.92 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The stock has a 50 day moving average price of $536.06 and a 200-day moving average price of $529.74.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the prior year, the firm posted $9.04 EPS. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.25%. Elevance Health’s payout ratio is presently 24.64%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,058 shares of company stock worth $17,588,116. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ELV shares. JPMorgan Chase & Co. boosted their target price on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Stephens reissued an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research report on Thursday, September 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research report on Friday, September 20th. Barclays decreased their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Finally, Bank of America reaffirmed a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Buy” and a consensus target price of $604.29.

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.