OMERS ADMINISTRATION Corp Has $8.81 Million Stake in Elevance Health, Inc. $ELV

OMERS ADMINISTRATION Corp boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 255.3% during the 1st quarter, HoldingsChannel reports. The firm owned 30,100 shares of the company’s stock after buying an additional 21,628 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Elevance Health were worth $8,812,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the fourth quarter valued at $32,000. ORG Partners LLC raised its position in Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after buying an additional 59 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Elevance Health in the 4th quarter worth about $38,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELV. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their target price on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Leerink Partners increased their price target on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Robert W. Baird raised their price target on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada lowered their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Trading Down 0.1%

Shares of NYSE ELV opened at $377.39 on Monday. The business has a 50 day simple moving average of $398.69 and a 200 day simple moving average of $356.47. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $436.24. The stock has a market cap of $81.84 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $8.84 earnings per share. On average, research analysts predict that Elevance Health, Inc. will post 27.04 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.