Jump Financial LLC Sells 9,957 Shares of Elevance Health, Inc. $ELV

Key Points

• Jump Financial LLC reduced its holdings in Elevance Health by 94.1%, selling 9,957 shares and retaining only 621 shares, valued at $270,000.
• Elevance Health's latest earnings report showed an EPS of $8.84, which was below expectations, but revenue increased by 14.3% year-over-year to $49.42 billion.
• The company announced a quarterly dividend of $1.71 per share, with a yield of 2.1%, reflecting a dividend payout ratio of 29.11%.

Jump Financial LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 94.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 621 shares of the company's stock after selling 9,957 shares during the quarter. Jump Financial LLC's holdings in Elevance Health were worth $270,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ELV. Captrust Financial Advisors increased its position in Elevance Health by 5.7% in the fourth quarter. Captrust Financial Advisors now owns 41,180 shares of the company's stock worth $15,191,000 after buying an additional 2,206 shares in the last quarter. Brevan Howard Capital Management LP increased its position in Elevance Health by 86.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 5,548 shares of the company's stock worth $2,047,000 after buying an additional 2,568 shares in the last quarter. Crestline Management LP increased its position in Elevance Health by 135.0% in the fourth quarter. Crestline Management LP now owns 2,966 shares of the company's stock worth $1,094,000 after buying an additional 1,704 shares in the last quarter. CoreCap Advisors LLC increased its position in Elevance Health by 289.4% in the fourth quarter. CoreCap Advisors LLC now owns 331 shares of the company's stock worth $122,000 after buying an additional 246 shares in the last quarter. Finally, Eminence Capital LP increased its position in Elevance Health by 140.5% in the fourth quarter. Eminence Capital LP now owns 555,545 shares of the company's stock worth $204,941,000 after buying an additional 324,511 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley reduced their price target on Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Barclays upped their price target on Elevance Health from $327.00 to $373.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Robert W. Baird cut their target price 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. UBS Group cut their target price on Elevance Health from $435.00 to $425.00 and set a "buy" rating for the company in a research report on Friday. Finally, Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $411.06.

Insider Buying and Selling

In other news, CEO Gail Boudreaux purchased 8,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average cost 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 approximately $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan D. Devore purchased 1,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares of the company's stock, valued at $1,093,149.30. The trade was 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 Price Performance

Elevance Health stock traded up $5.28 during midday trading on Tuesday, reaching $313.44. 388,193 shares of the stock traded hands, compared to its average volume of 1,966,430. The stock's fifty day moving average is $310.41 and its 200-day moving average is $372.67. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $559.95. The stock has a market cap of $70.58 billion, a P/E ratio of 13.34, a PEG ratio of 1.15 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

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

Elevance Health Dividend Announcement

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

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.