Landscape Capital Management L.L.C. Buys New Position in Elevance Health, Inc. $ELV

Key Points

• Landscape Capital Management bought 6,084 shares of Elevance Health in the second quarter, valued at approximately $2.35 million. Institutional investors collectively own 89.24% of the company.
• Analyst sentiment remains favorable, with 15 Buy ratings and eight Holds, producing a consensus “Moderate Buy” rating and an average price target of $440.90.
• Elevance Health exceeded quarterly expectations with adjusted EPS of $7.45 versus the $6.21 consensus and revenue of $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, representing a 1.7% annualized yield.

Landscape Capital Management L.L.C. bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 6,084 shares of the company's stock, valued at approximately $2,353,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. WealthCollab LLC increased its position in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Kilter Group LLC purchased a new stake in shares of Elevance Health during the 2nd quarter worth $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the fourth quarter worth $32,000. Finally, Main Street Group LTD purchased a new position in Elevance Health in the first quarter valued at $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company's 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 represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group raised their target price on Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Cantor Fitzgerald upped 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. Robert W. Baird raised their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada dropped their target price on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $440.90.

Elevance Health Stock Up 1.1%

Elevance Health stock opened at $400.66 on Friday. The stock has a 50 day moving average of $394.76 and a two-hundred day moving average of $359.92. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $86.89 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.84 EPS. As a group, research analysts expect that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a dividend of $1.72 per share. 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 currently 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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