Beaconlight Capital LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,946 shares of the company's stock, valued at approximately $2,299,000. Elevance Health makes up about 0.8% of Beaconlight Capital LLC's investment portfolio, making the stock its 27th biggest position.
Other large investors also recently bought and sold shares of the company. BTG Pactual Asset Management US LLC acquired a new stake in Elevance Health in the 2nd quarter valued at about $350,000. Quantitative Investment Management LLC increased its stake in shares of Elevance Health by 90.6% during the second quarter. Quantitative Investment Management LLC now owns 2,184 shares of the company's stock worth $844,000 after buying an additional 1,038 shares during the period. Sigma Planning Corp raised its holdings in Elevance Health by 43.3% in the second quarter. Sigma Planning Corp now owns 2,225 shares of the company's stock valued at $861,000 after acquiring an additional 672 shares in the last quarter. Two Sigma Securities LLC lifted its stake in Elevance Health by 104.5% in the second quarter. Two Sigma Securities LLC now owns 2,796 shares of the company's stock worth $1,081,000 after acquiring an additional 1,429 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Elevance Health by 9.4% in the second quarter. Benjamin Edwards Inc. now owns 4,105 shares of the company's stock worth $1,587,000 after acquiring an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on ELV shares. Evercore reissued a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Truist Financial increased their target price on Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, UBS Group lifted their price target on Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $440.90.
View Our Latest Report on Elevance Health
Insider Transactions at Elevance Health
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health 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 transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company's stock.
Elevance Health Price Performance
Shares of ELV opened at $395.28 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24. The stock has a market cap of $85.72 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.26 and a beta of 0.68. The firm has a fifty day moving average price of $395.36 and a 200 day moving average price of $362.31.
Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $48.88 billion. During the same quarter in the previous year, the firm earned $8.84 earnings per share. The business's revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current 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 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 currently 30.58%.
About Elevance Health
(
Free Report)
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.
Further Reading
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