Tidal Investments LLC Has $82.33 Million Position in Elevance Health, Inc. $ELV

Tidal Investments LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 3.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 212,877 shares of the company’s stock after purchasing an additional 7,266 shares during the period. Tidal Investments LLC’s holdings in Elevance Health were worth $82,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. WealthCollab LLC grew its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Kilter Group LLC acquired a new position in shares of Elevance Health during the 2nd quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new stake in Elevance Health during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health in the 4th quarter valued at approximately $32,000. Finally, Main Street Group LTD acquired a new stake in Elevance Health in the 1st quarter valued at approximately $39,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ELV shares. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a report on Tuesday, July 7th. Truist Financial increased their target price 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Finally, Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Performance

NYSE:ELV opened at $397.54 on Thursday. The stock has a market capitalization of $86.21 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 2.09 and a beta of 0.69. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The firm has a 50 day moving average of $397.05 and a 200-day moving average of $365.88.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the company posted $8.84 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued 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 currently 30.58%.

About Elevance Health

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.