Sienna Gestion Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Sienna Gestion grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,994 shares of the company’s stock after buying an additional 81 shares during the quarter. Sienna Gestion’s holdings in Elevance Health were worth $7,038,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Richwood Investment Advisors LLC lifted its stake in Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after acquiring an additional 20 shares during the period. Bell Investment Advisors Inc increased its position in shares of Elevance Health by 2.1% during the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the period. Capital Advisors Ltd. LLC raised its stake in Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after buying an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. lifted its holdings in Elevance Health by 1.6% in the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after buying an additional 20 shares during the period. Finally, American Trust boosted its position in Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV opened at $539.46 on Thursday. The company has a market cap of $125.38 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.19 and a beta of 0.82. The business’s fifty day simple moving average is $536.03 and its two-hundred day simple moving average is $528.77. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company earned $9.04 EPS. Research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced 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 1.21%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research note on Tuesday, September 10th. Bank of America reissued a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. TD Cowen decreased their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Buy” and an average target price of $604.29.

Insiders Place Their Bets

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

About Elevance Health

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.