Hsbc Holdings PLC Has $149.61 Million Holdings in Elevance Health, Inc. $ELV

Key Points

• HSBC Holdings PLC increased its Elevance Health stake by 0.9% in the first quarter, holding 511,067 shares worth about $149.6 million as of its latest filing.
• Elevance Health reported better-than-expected second-quarter earnings and raised its full-year outlook, though investors remain cautious about margin pressure and Medicaid exposure.
• Analysts were largely constructive after the earnings report, with several raising price targets and the stock carrying a Moderate Buy consensus target of $440.90.

Hsbc Holdings PLC lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,067 shares of the company's stock after buying an additional 4,563 shares during the quarter. Hsbc Holdings PLC owned about 0.24% of Elevance Health worth $149,613,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Money Concepts Capital Corp grew its position in shares of Elevance Health by 7.9% in the 1st quarter. Money Concepts Capital Corp now owns 3,133 shares of the company's stock valued at $917,000 after acquiring an additional 229 shares during the period. Munich Reinsurance Co Stock Corp in Munich raised its holdings in shares of Elevance Health by 44.1% in the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 274,158 shares of the company's stock valued at $80,260,000 after purchasing an additional 83,894 shares during the period. Cvfg LLC lifted its stake in Elevance Health by 4.8% in the 1st quarter. Cvfg LLC now owns 1,612 shares of the company's stock valued at $472,000 after purchasing an additional 74 shares during the last quarter. Unison Advisors LLC lifted its stake in Elevance Health by 0.4% in the 1st quarter. Unison Advisors LLC now owns 7,430 shares of the company's stock valued at $2,175,000 after purchasing an additional 32 shares during the last quarter. Finally, Greatmark Investment Partners Inc. grew its holdings in Elevance Health by 5.0% during the first quarter. Greatmark Investment Partners Inc. now owns 38,622 shares of the company's stock worth $11,306,000 after purchasing an additional 1,845 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Key Elevance Health News

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ELV. The Goldman Sachs Group reissued a "neutral" rating and set a $395.00 price target on shares of Elevance Health in a research report on Thursday. Weiss Ratings raised Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 18th. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Mizuho boosted their target price on Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Finally, Cantor Fitzgerald raised their price target on Elevance Health from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $440.90.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company's stock in a transaction 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 transaction, the director directly owned 10,734 shares of the company's stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Elevance Health Stock Down 0.0%

Elevance Health stock opened at $372.68 on Friday. The stock has a market cap of $80.82 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.10 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $436.24. The company's 50-day moving average price is $399.55 and its two-hundred day moving average price is $355.35.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.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 posted $8.84 earnings per share. The business's revenue was up .8% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health's payout ratio is 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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