GSA Capital Partners LLP Buys New Holdings in Elevance Health, Inc. $ELV

Key Points

• GSA Capital Partners acquired 9,037 shares of Elevance Health in the second quarter, valued at approximately $3.5 million. Institutional investors and hedge funds collectively own 89.24% of the company.
• Elevance Health reported quarterly earnings of $7.45 per share, exceeding analyst expectations of $6.21, while revenue reached $49.83 billion. The company also raised a quarterly dividend of $1.72 per share, equivalent to a 1.7% annual yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $440.90, above the stock’s reported price of $400.63.

GSA Capital Partners LLP purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,037 shares of the company's stock, valued at approximately $3,495,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health during the 4th quarter worth approximately $32,000. WealthCollab LLC raised its holdings in Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after buying an additional 27 shares during the period. Elevation Wealth Partners LLC raised its holdings in Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock valued at $41,000 after buying an additional 90 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Elevance Health during the fourth quarter valued at approximately $38,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.6%

ELV opened at $400.63 on Friday. The firm has a market capitalization of $86.88 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.30 and a beta of 0.68. The firm's 50 day moving average is $396.05 and its 200-day moving average is $358.15. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $8.84 earnings per share. Analysts expect that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's dividend payout ratio is presently 30.58%.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction 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. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Leerink Partners raised their target price on shares of Elevance Health from $364.00 to $395.00 and gave the company a "market perform" rating in a research note on Friday, July 17th. Guggenheim upped their price target on shares of Elevance Health from $399.00 to $455.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Wells Fargo & Company lowered their price target on Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. Finally, Raymond James Financial set a $450.00 price objective on Elevance Health in a research report on Tuesday, July 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $440.90.

About Elevance Health

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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