Firetrail Investments PTY Ltd. Increases Stake in Elevance Health, Inc. (NYSE:ELV)

Key Points

• Firetrail Investments PTY Ltd. has increased its stake in Elevance Health, Inc. by 3.6%, now holding 27,304 shares valued at approximately $12 million.
• CEO Gail Boudreaux acquired 8,500 shares for nearly $2.44 million, increasing her total ownership in the company.
• Despite a revenue increase of 14.3% year-over-year, Elevance Health missed earnings estimates, reporting $8.84 EPS compared to forecasts of $9.30.

Firetrail Investments PTY Ltd. increased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 27,304 shares of the company's stock after acquiring an additional 949 shares during the quarter. Elevance Health comprises 3.5% of Firetrail Investments PTY Ltd.'s investment portfolio, making the stock its 12th largest holding. Firetrail Investments PTY Ltd.'s holdings in Elevance Health were worth $12,005,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Milestone Asset Management LLC grew its holdings in Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after buying an additional 24 shares in the last quarter. Elser Financial Planning Inc grew its holdings in Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after buying an additional 26 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after buying an additional 27 shares in the last quarter. Prudent Man Advisors LLC grew its holdings in Elevance Health by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company's stock valued at $547,000 after buying an additional 28 shares in the last quarter. Finally, Barlow Wealth Partners Inc. grew its holdings in shares of Elevance Health by 1.3% during the first quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock worth $961,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The stock was purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ELV. Argus reissued a "hold" rating on shares of Elevance Health in a report on Monday. Leerink Partners reissued a "market perform" rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Wells Fargo & Company cut their price objective on Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Guggenheim dropped their target price on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $432.69.

Elevance Health Stock Performance

NYSE:ELV opened at $280.28 on Friday. The firm has a market cap of $63.11 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.09 and a beta of 0.60. Elevance Health, Inc. has a fifty-two week low of $274.40 and a fifty-two week high of $567.26. 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 business has a 50 day moving average price of $363.07 and a 200-day moving average price of $393.21.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

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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