Lecap Asset Management Ltd. Has $934,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Lecap Asset Management Ltd. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 56.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,147 shares of the company's stock after selling 2,806 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Elevance Health were worth $934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health during the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health during the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health in the 4th quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Mizuho boosted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Guggenheim reiterated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $498.87.

Elevance Health Price Performance

ELV traded down $0.37 during midday trading on Thursday, hitting $373.49. The company had a trading volume of 1,367,389 shares, compared to its average volume of 1,573,723. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The company has a market capitalization of $84.38 billion, a PE ratio of 14.57, a P/E/G ratio of 0.96 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The firm's 50-day simple moving average is $394.86 and its 200-day simple moving average is $398.76.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.83%. Elevance Health's dividend payout ratio is currently 26.69%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

Elevance Health 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.