72,819 Shares in Elevance Health, Inc. $ELV Acquired by Stanley Capital Management LLC

Stanley Capital Management LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 72,819 shares of the company’s stock, valued at approximately $28,161,000. Elevance Health accounts for approximately 3.7% of Stanley Capital Management LLC’s holdings, making the stock its 6th largest position.

Several other institutional investors also recently modified their holdings of ELV. WealthCollab LLC lifted its stake in Elevance Health by 42.2% during 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 period. Kilter Group LLC bought a new stake in shares of Elevance Health in the second quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health in the 4th quarter worth approximately $32,000. Finally, Main Street Group LTD purchased a new stake in Elevance Health during the 1st quarter valued at $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ELV shares. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. TD Cowen boosted their target price on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research report on Tuesday, July 7th. Finally, Leerink Partners lifted their price target on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated Thursday, June 11th. The stock was 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 in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Elevance Health Trading Down 1.0%

Shares of Elevance Health stock opened at $398.64 on Wednesday. The firm has a market cap of $86.45 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.31 and a beta of 0.68. The business has a 50-day moving average price of $394.81 and a 200-day moving average price of $360.90. 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 twelve month low of $274.84 and a twelve month high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings results 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 return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the business posted $8.84 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

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.