Horizon Investment Services LLC Grows Stake in Elevance Health, Inc. (NYSE:ELV)

Horizon Investment Services LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,413 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Horizon Investment Services LLC’s holdings in Elevance Health were worth $2,391,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Sanders Capital LLC lifted its position in shares of Elevance Health by 4.6% during the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after buying an additional 196,010 shares in the last quarter. Capital International Investors raised its stake in Elevance Health by 3.7% during the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after acquiring an additional 123,802 shares during the period. Norges Bank purchased a new position in Elevance Health during the fourth quarter valued at approximately $1,347,434,000. The Manufacturers Life Insurance Company boosted its position in shares of 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. Finally, Dimensional Fund Advisors LP increased its stake in shares of Elevance Health by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,860,723 shares of the company’s stock worth $877,412,000 after purchasing an additional 11,093 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ELV. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial upped their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Robert W. Baird began coverage on shares of Elevance Health in a research report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price objective on the stock. Bank of America restated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Finally, TD Cowen reduced their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $604.29.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’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 transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.5 %

ELV stock opened at $544.47 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s fifty day simple moving average is $533.77 and its 200-day simple moving average is $526.28. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $567.26. The company has a market capitalization of $126.54 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same period last year, the firm earned $9.04 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s payout ratio is presently 24.64%.

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.