Lecap Asset Management Ltd. Sells 2,806 Shares of Elevance Health, Inc. (NYSE:ELV)

Lecap Asset Management Ltd. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 56.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,147 shares of the company’s stock after selling 2,806 shares during the period. Lecap Asset Management Ltd.’s holdings in Elevance Health were worth $934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health in the fourth quarter worth $26,000. Riverview Trust Co increased its position in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in Elevance Health in the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in Elevance Health in the fourth quarter worth $30,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Finally, Truist Financial set a $500.00 price target on shares of Elevance Health and gave the stock a “buy” rating in a research report on Monday, June 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $498.87.

Elevance Health Trading Down 0.6%

ELV stock opened at $374.23 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The stock has a market capitalization of $84.55 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60. The firm’s fifty day simple moving average is $394.86 and its two-hundred day simple moving average is $398.76.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health’s dividend payout ratio is currently 26.69%.

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.