Sanders Capital LLC Has $2.40 Billion Position in Elevance Health, Inc. (NYSE:ELV)

Sanders Capital LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,609,258 shares of the company’s stock after purchasing an additional 44,805 shares during the period. Elevance Health accounts for about 3.5% of Sanders Capital LLC’s holdings, making the stock its 9th biggest position. Sanders Capital LLC owned approximately 1.99% of Elevance Health worth $2,396,814,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its stake in shares of Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after buying an additional 656,344 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after acquiring an additional 523,910 shares during the period. Maj Invest Holding A S purchased a new position in Elevance Health in the second quarter worth $173,753,000. Finally, First Eagle Investment Management LLC grew its stake in Elevance Health by 15.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after purchasing an additional 275,708 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.8 %

Shares of Elevance Health stock opened at $404.54 on Tuesday. The company’s 50-day moving average price is $457.79 and its 200-day moving average price is $507.92. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. The company has a market cap of $93.82 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.20 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.99 earnings per share. On average, equities analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Analysts Set New Price Targets

A number of research firms have recently commented on ELV. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.