Victrix Investment Advisors Makes New Investment in Elevance Health, Inc. $ELV

Victrix Investment Advisors purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, HoldingsChannel reports. The fund purchased 887 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Elevance Health during the first quarter valued at about $789,943,000. Orbis Allan Gray Ltd lifted its holdings in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after purchasing an additional 666,534 shares in the last quarter. Boston Partners grew its stake in shares of Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after purchasing an additional 605,689 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Elevance Health by 13.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after purchasing an additional 324,040 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $322.89 on Wednesday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $524.68. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market cap of $72.71 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. The business has a fifty day simple moving average of $304.83 and a 200-day simple moving average of $363.10.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. During the same period in the prior year, the company posted $10.12 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s payout ratio is presently 29.11%.

Insider Activity at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gail Boudreaux bought 8,500 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ELV shares. UBS Group reduced their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Wells Fargo & Company cut their price objective on Elevance Health from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Argus restated a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Truist Financial reduced their target price on Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $411.06.

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.