27,447 Shares in Elevance Health, Inc. $ELV Bought by Man Group plc

Key Points

• Man Group plc purchased 27,447 shares of Elevance Health in the second quarter, valued at approximately $10.6 million. Institutional investors collectively own 89.24% of the company.
• Analysts maintain a favorable outlook, with 15 Buy ratings and eight Holds, producing a consensus “Moderate Buy” rating and an average price target of $440.90.
• Elevance Health reported quarterly EPS of $7.45, exceeding estimates by $1.24, while revenue reached $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, representing a 1.7% yield.

Man Group plc purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 27,447 shares of the company's stock, valued at approximately $10,615,000.

Other large investors have also recently made changes to their positions in the company. Kilter Group LLC bought a new stake in Elevance Health during the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health during the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health in the 4th quarter worth $32,000. WealthCollab LLC lifted 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 acquiring an additional 27 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock worth $41,000 after acquiring an additional 90 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ELV shares. Truist Financial upped their price target on Elevance Health from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Guggenheim boosted their target price on shares of Elevance Health from $399.00 to $455.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Royal Bank Of Canada dropped their target price on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating for the company in a research report on Thursday, July 16th. Morgan Stanley lifted their price target on shares of Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and an average target price of $440.90.

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 that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.34% of the stock is owned by insiders.

Elevance Health Trading Down 1.0%

Shares of ELV opened at $395.28 on Friday. The stock has a market capitalization of $85.72 billion, a PE ratio of 17.57, a P/E/G ratio of 2.28 and a beta of 0.68. The company's fifty day moving average is $395.36 and its 200 day moving average is $362.06. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS 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 business had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter last year, the business earned $8.84 earnings per share. Elevance Health's quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's 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.

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