Moore Capital Management LP Has $22.79 Million Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Moore Capital Management LP more than doubled its stake in Elevance Health during the fourth quarter, raising its holdings by 116.9% to 65,000 shares valued at about $22.79 million.
• Elevance Health reported better-than-expected quarterly results, with EPS of $12.58 versus analyst estimates of $10.74 and revenue of $49.49 billion, topping expectations as well.
• The company also announced a quarterly dividend of $1.72 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $416.11.

Moore Capital Management LP lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 116.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,000 shares of the company's stock after acquiring an additional 35,026 shares during the quarter. Moore Capital Management LP's holdings in Elevance Health were worth $22,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ELV. Sei Investments Co. increased its position in Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company's stock worth $63,666,000 after buying an additional 11,745 shares during the last quarter. Glenview Trust co increased its position in Elevance Health by 41.5% during the second quarter. Glenview Trust co now owns 1,619 shares of the company's stock worth $630,000 after buying an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Elevance Health by 6.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company's stock worth $25,650,000 after buying an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Elevance Health by 5.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company's stock worth $16,478,000 after buying an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Elevance Health by 111.8% during the second quarter. Quantinno Capital Management LP now owns 43,911 shares of the company's stock worth $17,080,000 after buying an additional 23,180 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.4%

ELV stock opened at $392.04 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $426.98. The company has a 50-day moving average of $372.34 and a two-hundred day moving average of $346.21. The stock has a market capitalization of $85.13 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.67.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. During the same period in the prior year, the company earned $11.97 earnings per share. 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. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELV shares. Mizuho increased their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Morgan Stanley increased their target price on shares of Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. Barclays increased their target price on shares of Elevance Health from $408.00 to $480.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Citigroup upgraded shares of Elevance Health to a "buy" rating in a report on Wednesday, April 29th. Finally, Evercore restated a "hold" rating on shares of Elevance Health in a report on Tuesday, May 19th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $416.11.

Elevance Health 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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.