Waterloo Capital L.P. Reduces Position in Elevance Health, Inc. $ELV

Waterloo Capital L.P. reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 24.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 717 shares of the company’s stock after selling 234 shares during the period. Waterloo Capital L.P.’s holdings in Elevance Health were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ELV. WPG Advisers LLC purchased a new position in Elevance Health during the first quarter worth about $29,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $32,000. Saudi Central Bank purchased a new stake in shares of Elevance Health during the 1st quarter valued at approximately $40,000. Glass Jacobson Investment Advisors llc raised its position in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new position in Elevance Health in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ELV shares. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a report on Monday. JPMorgan Chase & Co. raised their price target on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group started coverage on Elevance Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $343.00 target price on the stock. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Finally, Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $397.33.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $336.28 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm’s 50 day moving average is $331.74 and its two-hundred day moving average is $336.47. The firm has a market capitalization of $74.73 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same period last year, the firm posted $8.37 EPS. The company’s revenue was up 12.0% on a year-over-year basis. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio is 27.96%.

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.