Bailard Inc. has $3.34M stock position in Elevance Health, Inc. (NYSE:ELV)

VaselineAugust 29, 2024

0 4 minutes read

Bailard Inc. reduced its stake in Elevance Health, Inc. (NYSE:ELV – Free Report) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,157 shares of the company’s stock after selling 95 shares during the period. The holdings of Bailard Inc. holdings in Elevance Health were worth $3,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Elevance Health in the fourth quarter valued at about $1,347,434,000. Massachusetts Financial Services Co. MA bought a new position in shares of Elevance Health in the 4th quarter valued at about $467,141,000. Canoe Financial LP grew its stake in Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC bought a new stake in Elevance Health in the fourth quarter valued at $239,244,000. Finally, Focused Investors Fund LP purchased a new position in Elevance Health in the 1st quarter worth $249,884,000. 89.24% of shares are held by institutional investors.

Analysts set new price targets

ELV has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Stephens reissued an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a report on Tuesday, June 11th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Monday, August 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Baird RW upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Buy” and an average price target of $604.29.

Want more great investment ideas?

Check out our latest report on Elevance Health

Insiders place their bets

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 over the last ninety days. 0.35% of shares are currently held by corporate insiders.

Elevance Health Trading falls 0.2%

NYSE ELV opened at $544.63 on Tuesday. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $555.35. The stock has a 50-day simple moving average of $530.81 and a 200-day simple moving average of $524.00. The company has a current ratio of 1.49, a quick ratio of 1.49, and a debt-to-equity ratio of 0.58. The company has a market cap of $126.58 billion, a PE ratio of 20.58, a P/E/G ratio of 1.18 and a beta of 0.84.

Elevance Health (NYSE:ELV – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the previous year, the business posted EPS of $9.04. Elevance Health’s revenue fell 0.4% year over year. Research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a $1.63 dividend. The ex-dividend date is Tuesday, September 10. This represents a dividend of $6.52 on an annualized basis and a yield of 1.20%. Elevance Health’s payout ratio is 24.64%.

Elevance Health Profile

(Free Report)

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. Offers a variety of health plans and services to program members; health products; a range of fee-based managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability and supplemental health insurance benefits.