Elevance Health, Inc. $ELV Holdings Lifted by Maple Rock Capital Partners Inc.

Key Points

• Maple Rock Capital Partners increased its Elevance Health stake by 208.9% in the second quarter, bringing its holdings to 191,500 shares valued at approximately $74.1 million. Institutional investors and hedge funds collectively own 89.24% of the company.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and eight Hold ratings. Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $440.90.
• Elevance exceeded quarterly expectations with adjusted earnings of $7.45 per share and revenue of $49.83 billion, while declaring a quarterly dividend of $1.72 per share, equating to a 1.8% yield.

Maple Rock Capital Partners Inc. lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 208.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,500 shares of the company's stock after buying an additional 129,500 shares during the period. Elevance Health makes up about 1.5% of Maple Rock Capital Partners Inc.'s investment portfolio, making the stock its 20th largest holding. Maple Rock Capital Partners Inc. owned about 0.09% of Elevance Health worth $74,059,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Beaconlight Capital LLC bought a new stake in Elevance Health during the 2nd quarter valued at $2,299,000. BTG Pactual Asset Management US LLC bought a new stake in shares of Elevance Health during the second quarter valued at about $350,000. Quantitative Investment Management LLC lifted its holdings in Elevance Health by 90.6% in the second quarter. Quantitative Investment Management LLC now owns 2,184 shares of the company's stock worth $844,000 after purchasing an additional 1,038 shares during the period. Sigma Planning Corp increased its stake in Elevance Health by 43.3% during the 2nd quarter. Sigma Planning Corp now owns 2,225 shares of the company's stock valued at $861,000 after buying an additional 672 shares during the period. Finally, Two Sigma Securities LLC raised its position in shares of Elevance Health by 104.5% during the 2nd quarter. Two Sigma Securities LLC now owns 2,796 shares of the company's stock worth $1,081,000 after buying an additional 1,429 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Elevance Health from $331.00 to $393.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. UBS Group raised their target price on Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Truist Financial upped their price target on shares of Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $492.00 to $473.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Finally, Barclays reduced their target price on shares of Elevance Health from $480.00 to $457.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $440.90.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the 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 sale, the director directly owned 10,734 shares of the company's stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Elevance Health Stock Down 0.4%

ELV stock opened at $392.81 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $85.19 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.26 and a beta of 0.68. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company's 50 day simple moving average is $395.32 and its 200-day simple moving average is $362.78.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data 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 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 quarter last year, the business posted $8.84 EPS. The company's revenue was up .8% on a year-over-year basis. As a group, equities research 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 given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's payout ratio is presently 30.58%.

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.

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