35,471 Shares in Elevance Health, Inc. $ELV Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 35,471 shares of the company’s stock, valued at approximately $13,797,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Elevance Health in the 2nd quarter valued at $1,148,379,000. Sanders Capital LLC increased its holdings in Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new position in Elevance Health in the second quarter valued at about $293,141,000. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after purchasing an additional 704,790 shares in the last quarter. Finally, Orbis Allan Gray Ltd boosted its position in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after buying an additional 680,228 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ELV. JPMorgan Chase & Co. raised their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Guggenheim lifted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Truist Financial set a $400.00 target price on shares of Elevance Health in a research report on Tuesday, October 14th. Bank of America lifted their price target on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Robert W. Baird boosted their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $400.83.

Elevance Health Trading Down 0.4%

ELV opened at $358.95 on Friday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $79.77 billion, a PE ratio of 14.67, a P/E/G ratio of 1.67 and a beta of 0.52. The firm’s fifty day moving average price is $335.31 and its 200 day moving average price is $332.35.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.37 EPS. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s dividend payout ratio is presently 27.96%.

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.