Hsbc Holdings PLC Reduces Position in Elevance Health, Inc. $ELV

Key Points

• HSBC Holdings PLC trimmed its Elevance Health position by 0.7% in the fourth quarter, but still held 506,504 shares worth about $177.6 million at the end of the period.
• Elevance Health has continued to attract analyst support, with recent price target increases from firms including Guggenheim, Goldman Sachs, and Bank of America. The stock carries a consensus rating of “Moderate Buy” with an average price target of $416.11.
• The company reported better-than-expected quarterly earnings, posting $12.58 EPS versus $10.74 expected, and it also announced a quarterly dividend of $1.72 per share to be paid on June 25.

Hsbc Holdings PLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 506,504 shares of the company's stock after selling 3,462 shares during the quarter. Hsbc Holdings PLC owned about 0.23% of Elevance Health worth $177,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sound View Wealth Advisors Group LLC increased its position in shares of Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock valued at $354,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC raised its stake in Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock worth $289,000 after acquiring an additional 29 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock worth $481,000 after acquiring an additional 29 shares during the period. Savvy Advisors Inc. lifted its position in Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock worth $343,000 after acquiring an additional 30 shares during the period. Finally, CoreCap Advisors LLC grew its stake in Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company's stock valued at $195,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ELV. Guggenheim increased their price objective on Elevance Health from $396.00 to $399.00 and gave the company a "buy" rating in a report on Friday, April 24th. The Goldman Sachs Group upped their target price on Elevance Health from $350.00 to $370.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Bank of America increased their price target on shares of Elevance Health from $435.00 to $460.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Robert W. Baird raised their price target on shares of Elevance Health from $317.00 to $331.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Finally, Evercore restated a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $416.11.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction 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 trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

Elevance Health Stock Performance

NYSE ELV opened at $388.77 on Friday. The stock has a 50-day simple moving average of $375.30 and a two-hundred day simple moving average of $346.91. The firm has a market capitalization of $84.43 billion, a P/E ratio of 16.54, a PEG ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same quarter in the prior year, the firm posted $11.97 EPS. The business's quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts forecast that Elevance Health, Inc. will post 26.93 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, June 25th. Shareholders of record on Wednesday, June 10th will be given a dividend of $1.72 per share. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health's dividend payout ratio is currently 29.26%.

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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