Elevance Health, Inc. $ELV Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its Elevance Health stake by 2.3% in the second quarter, purchasing 11,819 additional shares and bringing its holdings to 522,886 shares valued at approximately $202.5 million. Institutional investors collectively own 89.24% of the company.
• Analysts maintain a generally positive outlook, with Elevance Health receiving a consensus “Moderate Buy” rating and an average price target of $440.90. The company recently reported quarterly EPS of $7.45, exceeding estimates of $6.21, while revenue reached $49.83 billion.
• Elevance declared a quarterly dividend of $1.72 per share, equivalent to an annualized dividend of $6.88 and a 1.7% yield. Shares opened at $407.05, compared with a 52-week range of $274.84 to $436.24.

Hsbc Holdings PLC boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 522,886 shares of the company's stock after buying an additional 11,819 shares during the period. Hsbc Holdings PLC owned approximately 0.24% of Elevance Health worth $202,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WealthCollab LLC lifted its stake in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after acquiring an additional 27 shares during the period. Kilter Group LLC acquired a new stake in shares of Elevance Health in the second quarter worth $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health during the fourth quarter worth $32,000. Finally, Main Street Group LTD purchased a new position in shares of Elevance Health during the first quarter worth $39,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert Dixon, Jr. sold 151 shares of the firm'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 value of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company's stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ELV. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research note on Thursday, July 16th. Raymond James Financial set a $450.00 price objective on Elevance Health in a report on Tuesday, July 7th. Mizuho upped their target price on Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Finally, Wall Street Zen lowered Elevance Health from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $440.90.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $407.05 on Monday. The company has a market capitalization of $88.28 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company's fifty day moving average price is $396.72 and its 200 day moving average price is $364.70. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year 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 earnings per share for the quarter, beating 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 company had revenue of $49.83 billion during the quarter, compared to analysts' expectations of $48.88 billion. During the same quarter in the previous year, the company earned $8.84 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that Elevance Health, Inc. will post 27.18 earnings per share 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 issued a $1.72 dividend. The ex-dividend date of this dividend 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 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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