Bailard Inc. Purchases 173 Shares of Elevance Health, Inc. (NYSE:ELV)

Bailard Inc. boosted its position in Elevance Health, Inc. (NYSE:ELV) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,740 shares of the company’s stock after acquiring an additional 173 shares during the period. Bailard Inc.’s holdings in Elevance Health were worth $3,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Elevance Health in the third quarter valued at approximately $25,000. Alaska Permanent Fund Corp purchased a new stake in shares of Elevance Health during the fourth quarter valued at approximately $31,000. ORG Partners LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at approximately $40,000. Orion Capital Management LLC purchased a new stake in shares of Elevance Health during the third quarter valued at approximately $46,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Elevance Health in the third quarter worth $51,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.1 %

NYSE:ELV traded up $5.69 during mid-day trading on Thursday, reaching $539.42. 684,369 shares of the company’s stock traded hands, compared to its average volume of 1,059,140. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The firm has a market capitalization of $125.37 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50 day moving average price of $510.78 and a 200-day moving average price of $485.44.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the business earned $9.46 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. UBS Group lifted their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group lifted their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Mizuho lifted their price objective on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health 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.