Hsbc Holdings PLC Sells 79,350 Shares of Elevance Health, Inc. $ELV

Key Points

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Hsbc Holdings PLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 681,454 shares of the company's stock after selling 79,350 shares during the period. Hsbc Holdings PLC owned about 0.30% of Elevance Health worth $296,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Milestone Asset Management LLC raised its position 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 during the period. GLOBALT Investments LLC GA raised its position in Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after buying an additional 24 shares during the last quarter. Elser Financial Planning Inc raised its position in Elevance Health by 3.0% in 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 during the last quarter. Checchi Capital Advisers LLC raised its position in Elevance Health by 1.0% in 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 during the last quarter. Finally, Hemington Wealth Management raised its position in Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company's stock valued at $100,000 after buying an additional 27 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV traded up $6.2370 during trading on Friday, reaching $315.8370. The company's stock had a trading volume of 2,961,044 shares, compared to its average volume of 2,474,865. The firm has a market cap of $71.12 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.58. 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 firm has a 50 day moving average of $324.18 and a 200-day moving average of $378.47. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during 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%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $10.12 EPS. Research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is 29.11%.

Analyst Ratings Changes

A number of research firms recently commented on ELV. Truist Financial lowered their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Robert W. Baird lowered their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Leerink Partners reissued a "market perform" rating and issued a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Guggenheim lowered their price target 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. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $413.81.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan D. Devore purchased 1,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Company Profile

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.