Elevance Health, Inc. $ELV Stock Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 20.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 671,321 shares of the company’s stock after buying an additional 116,000 shares during the period. Russell Investments Group Ltd. owned about 0.31% of Elevance Health worth $261,442,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ELV. Field & Main Bank grew its position in Elevance Health by 1.3% during the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after acquiring an additional 25 shares during the last quarter. Simplicity Wealth LLC raised its stake in shares of Elevance Health by 1.3% during the third quarter. Simplicity Wealth LLC now owns 1,939 shares of the company’s stock worth $754,000 after acquiring an additional 25 shares in the last quarter. Tranquilli Financial Advisor LLC raised its stake in shares of Elevance Health by 1.3% during the second quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock worth $805,000 after acquiring an additional 26 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Elevance Health by 3.5% in the 3rd quarter. Mather Group LLC. now owns 766 shares of the company’s stock worth $298,000 after acquiring an additional 26 shares during the last quarter. Finally, 55 North Private Wealth LLC lifted its holdings in shares of Elevance Health by 4.5% in the 3rd quarter. 55 North Private Wealth LLC now owns 598 shares of the company’s stock worth $233,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Ratnakar Lavu sold 1,300 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $440.00, for a total value of $572,000.00. Following the transaction, the executive vice president owned 14,849 shares in the company, valued at approximately $6,533,560. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Kaye sold 10,584 shares of the company’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the transaction, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at approximately $8,766,949.47. This trade represents a 34.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of Elevance Health from $404.00 to $449.00 and gave the company an “equal weight” rating in a research note on Thursday, October 22nd. Wells Fargo & Company lifted their target price on shares of Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 27th. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research note on Wednesday. Finally, TD Cowen upped their price target on shares of Elevance Health from $465.00 to $495.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $456.48.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $430.16 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47. The business’s 50 day simple moving average is $415.11 and its two-hundred day simple moving average is $374.67. The stock has a market capitalization of $92.94 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.05 and a beta of 0.63. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $450.69.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $4.71 by $2.28. The firm had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.03 earnings per share. Analysts forecast that Elevance Health, Inc. will post 29.15 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, December 4th. Elevance Health’s dividend payout ratio is currently 29.34%.

Elevance Health Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.