Bayesian Capital Management LP Purchases 1,561 Shares of Elevance Health, Inc. (NYSE:ELV)

Bayesian Capital Management LP increased its stake in Elevance Health, Inc. (NYSE:ELV) by 164.5% in the first quarter, Holdings Channel reports. The institutional investor owned 2,510 shares of the company’s stock after acquiring an additional 1,561 shares during the period. Bayesian Capital Management LP’s holdings in Elevance Health were worth $1,302,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Sanders Capital LLC lifted its position in Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after buying an additional 196,010 shares during the last quarter. Capital International Investors lifted its position in Elevance Health by 3.7% in the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after buying an additional 123,802 shares during the last quarter. Baillie Gifford & Co. lifted its position in Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after buying an additional 27,986 shares during the last quarter. Norges Bank purchased a new stake in Elevance Health in the fourth quarter worth $1,347,434,000. Finally, The Manufacturers Life Insurance Company increased its stake in Elevance Health by 6.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,863,601 shares of the company’s stock worth $878,800,000 after purchasing an additional 110,462 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred 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 directly owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred 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 directly owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Trading Down 0.5 %

Elevance Health stock opened at $533.49 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $555.35. The company has a market capitalization of $123.71 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The stock has a 50-day moving average price of $529.79 and a 200 day moving average price of $517.08.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELV. Bank of America reiterated a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price target on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Barclays cut their price target on Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. TD Cowen cut their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Finally, UBS Group lifted their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Buy” and an average price target of $604.29.

About Elevance Health

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.