Elevance Health, Inc. $ELV Holdings Raised by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. increased its holdings in Elevance Health by 171.6% in Q2, now owning 5,831 shares valued at approximately $2.27 million.
• The company recently reported $8.84 EPS for the quarter, missing analysts' expectations, but revenues increased by 14.3% year-over-year to $49.42 billion.
• Elevance Health declared a quarterly dividend of $1.71 per share, yielding 2.1%, with a payout ratio of 29.11%.

Lecap Asset Management Ltd. boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 171.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,831 shares of the company's stock after acquiring an additional 3,684 shares during the quarter. Elevance Health comprises about 0.8% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 22nd biggest holding. Lecap Asset Management Ltd.'s holdings in Elevance Health were worth $2,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new position in shares of Elevance Health during the first quarter worth approximately $299,000. Focus Partners Wealth raised its stake in shares of Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after purchasing an additional 982 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock valued at $3,125,000 after purchasing an additional 817 shares in the last quarter. GAMMA Investing LLC grew its position in Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after acquiring an additional 1,588 shares during the period. Finally, Ransom Advisory Ltd bought a new stake in Elevance Health in the first quarter valued at $522,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity

In related news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Trading Up 2.9%

NYSE ELV opened at $332.34 on Thursday. The business's 50-day moving average price is $305.54 and its two-hundred day moving average price is $362.89. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $510.24. The firm has a market capitalization of $74.84 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same period in the previous year, the business posted $10.12 earnings per share. The business's revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health's payout ratio is 29.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Argus reiterated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. JPMorgan Chase & Co. decreased their price target on Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Wells Fargo & Company decreased their price target on Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Finally, UBS Group decreased their price target on Elevance Health from $435.00 to $425.00 and set a "buy" rating for the company in a research note on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $411.06.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.

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