1,587 Shares in Elevance Health, Inc. $ELV Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. bought a new position in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,587 shares of the company’s stock, valued at approximately $614,000.

Several other hedge funds have also recently made changes to their positions in the company. WealthCollab LLC increased its holdings in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $38,000. Finally, Main Street Group LTD purchased a new stake in shares of Elevance Health during the 1st quarter valued at approximately $39,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Bank of America raised their price target on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Barclays decreased their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada cut their target price on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Stock Performance

Elevance Health stock opened at $398.53 on Thursday. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market cap of $86.43 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The firm’s fifty day moving average price is $394.87 and its 200-day moving average price is $359.27.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $8.84 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is presently 30.58%.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.