Dimensional Fund Advisors LP Raises Stock Position in Elevance Health, Inc. $ELV

Dimensional Fund Advisors LP grew its position in Elevance Health, Inc. (NYSE:ELV) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,645,787 shares of the company’s stock after purchasing an additional 128,995 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Elevance Health were worth $481,683,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health in the 4th quarter valued at about $32,000. ORG Partners LLC lifted its holdings in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after acquiring an additional 59 shares during the period. Dorato Capital Management acquired a new position in shares of Elevance Health in the 4th quarter valued at $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elevance Health in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 2.3%

Shares of NYSE ELV opened at $381.82 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $82.81 billion, a PE ratio of 16.97, a PEG ratio of 2.10 and a beta of 0.67. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $436.24. The stock has a fifty day simple moving average of $399.56 and a 200-day simple moving average of $355.63.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 EPS. Elevance Health’s revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 27.08 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ELV shares. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Citigroup raised Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. UBS Group raised their price objective on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.