Elevance Health, Inc. $ELV Shares Sold by iSAM Funds UK Ltd

iSAM Funds UK Ltd lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 53.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,240 shares of the company’s stock after selling 1,452 shares during the quarter. iSAM Funds UK Ltd’s holdings in Elevance Health were worth $480,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of ELV. WealthCollab LLC lifted its holdings in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the period. Kilter Group LLC purchased a new stake in Elevance Health in the second quarter valued at approximately $28,000. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health during the 4th quarter worth approximately $32,000. Finally, Main Street Group LTD purchased a new position in Elevance Health during the 1st quarter worth approximately $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.8%

Elevance Health stock opened at $406.17 on Thursday. 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 12 month low of $274.84 and a 12 month high of $436.24. The stock’s 50 day simple moving average is $395.92 and its two-hundred day simple moving average is $363.79. The firm has a market cap of $88.09 billion, a PE ratio of 18.05, a P/E/G ratio of 2.10 and a beta of 0.69.

Elevance Health (NYSE:ELV) last posted its 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 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 analyst estimates of $48.88 billion. During the same period in the previous year, the firm earned $8.84 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Analysts anticipate that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have commented on ELV shares. Guggenheim upped their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Cantor Fitzgerald raised their target price on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Royal Bank Of Canada lowered their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $440.90.

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.