27,447 Shares in Elevance Health, Inc. $ELV Purchased by Man Group plc

Man Group plc bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel.com reports. The fund bought 27,447 shares of the company’s stock, valued at approximately $10,615,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. WealthCollab LLC grew its position in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Kilter Group LLC bought a new stake in shares of Elevance Health during the second quarter worth $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health during the fourth quarter valued at $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health in the fourth quarter worth about $32,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health in the first quarter worth about $39,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELV has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Guggenheim upped their target price on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Finally, Bank of America raised their price objective on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the 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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Elevance Health Trading Down 1.0%

NYSE:ELV opened at $395.28 on Friday. The firm has a 50-day simple moving average of $395.36 and a 200-day simple moving average of $362.06. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24. The firm has a market cap of $85.72 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the firm earned $8.84 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

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.