Firetrail Investments PTY Ltd. Makes New $12.12 Million Investment in Elevance Health, Inc. $ELV

Firetrail Investments PTY Ltd. purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 31,530 shares of the company’s stock, valued at approximately $12,120,000. Elevance Health accounts for about 3.4% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of ELV. WealthCollab LLC lifted its holdings 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 buying an additional 27 shares during the period. Signet Financial Management LLC grew its holdings in Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after acquiring an additional 28 shares during the period. Sapient Capital LLC grew its holdings in Elevance Health by 1.2% during the first quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock worth $765,000 after acquiring an additional 31 shares during the period. Mutual Advisors LLC raised its position in Elevance Health by 1.4% in the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock worth $803,000 after acquiring an additional 32 shares in the last quarter. Finally, Waddell & Associates LLC raised its position in Elevance Health by 2.6% in the fourth quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock worth $435,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

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 that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Elevance Health Trading Up 0.1%

NYSE:ELV opened at $400.63 on Monday. The company has a quick ratio of 1.52, a current 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 market capitalization of $86.88 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The stock has a fifty day simple moving average of $396.05 and a 200 day simple moving average of $358.01.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The firm 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 was up .8% on a year-over-year basis. During the same quarter last year, the business posted $8.84 EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. The Goldman Sachs Group restated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Citigroup upgraded shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a research note on Tuesday, July 7th. Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, Mizuho lifted their price target on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health 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.