Y Intercept Hong Kong Ltd Invests $8.34 Million in Elevance Health, Inc. $ELV

Y Intercept Hong Kong Ltd purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 1st quarter, Holdings Channel reports. The fund purchased 28,500 shares of the company’s stock, valued at approximately $8,343,000.

Other hedge funds have also added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC raised its holdings in Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after purchasing an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its position in Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after purchasing an additional 29 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after purchasing an additional 29 shares during the last quarter. Savvy Advisors Inc. boosted its stake in shares of Elevance Health by 3.2% in the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in shares of Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock worth $195,000 after buying an additional 32 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore reissued a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Truist Financial raised their price objective on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Guggenheim upped their target price on shares of Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and increased their price target for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $419.16.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of ELV stock opened at $416.97 on Friday. The stock has a market cap of $90.55 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.37 and a beta of 0.67. The stock has a 50-day moving average of $391.29 and a 200-day moving average of $351.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $427.19.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. Elevance Health’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 26.86 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 29.26%.

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.