Magnetar Financial LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 126.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,432 shares of the company's stock after purchasing an additional 2,471 shares during the quarter. Magnetar Financial LLC's holdings in Elevance Health were worth $1,928,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Milestone Asset Management LLC grew its holdings in shares of Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after purchasing an additional 24 shares in the last quarter. GLOBALT Investments LLC GA grew its holdings in shares of Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock worth $2,743,000 after purchasing an additional 24 shares in the last quarter. Elser Financial Planning Inc grew its holdings in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after purchasing an additional 26 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after purchasing an additional 27 shares in the last quarter. Finally, Hemington Wealth Management grew its holdings in shares of Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Elevance Health Trading Down 0.3%
Shares of Elevance Health stock traded down $1.04 during midday trading on Wednesday, reaching $321.29. 1,645,483 shares of the company's stock traded hands, compared to its average volume of 1,971,520. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $72.35 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.17 and a beta of 0.59. The stock has a 50 day moving average of $315.76 and a 200-day moving average of $374.86. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $562.11.
Elevance Health (NYSE:ELV - Get Free Report) last announced its 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). The business had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.12 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.
Elevance Health Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is currently 29.11%.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Argus reaffirmed a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Barclays cut their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Leerink Partners reaffirmed a "market perform" rating and issued a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Finally, Wall Street Zen lowered Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $413.81.
Check Out Our Latest Research Report on ELV
Insider Buying and Selling
In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gail Boudreaux bought 8,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were 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 of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.
About Elevance Health
(
Free Report)
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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