Loomis Sayles & Co. L P Has $30.41 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Loomis Sayles & Co. L P grew its stake in Elevance Health, Inc. (NYSE:ELV) by 9.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 58,485 shares of the company’s stock after acquiring an additional 4,844 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Elevance Health were worth $30,412,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Waverly Advisors LLC raised its stake in Elevance Health by 19.8% during the first quarter. Waverly Advisors LLC now owns 2,873 shares of the company’s stock worth $1,490,000 after acquiring an additional 474 shares in the last quarter. Bayesian Capital Management LP increased its position in shares of Elevance Health by 164.5% during the 1st quarter. Bayesian Capital Management LP now owns 2,510 shares of the company’s stock worth $1,302,000 after purchasing an additional 1,561 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Elevance Health during the 1st quarter valued at about $3,309,000. B. Riley Wealth Advisors Inc. boosted its position in Elevance Health by 6.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,855 shares of the company’s stock valued at $1,480,000 after buying an additional 172 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in Elevance Health by 24.9% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,520 shares of the company’s stock worth $1,825,000 after buying an additional 701 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Barclays cut their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Royal Bank of Canada cut their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $407.59 on Tuesday. The firm has a fifty day moving average of $457.79 and a 200-day moving average of $507.92. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $94.53 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the firm posted $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is presently 23.77%.

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.