Elevance Health, Inc. $ELV Stock Position Lifted by Two Sigma Securities LLC

Two Sigma Securities LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 104.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,796 shares of the company’s stock after buying an additional 1,429 shares during the quarter. Two Sigma Securities LLC’s holdings in Elevance Health were worth $1,081,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $7,344,424,000. Bank of New York Mellon Corp bought a new position in Elevance Health during the second quarter valued at approximately $1,246,349,000. Norges Bank acquired a new stake in Elevance Health in the fourth quarter valued at approximately $1,058,165,000. Legal & General Group Plc bought a new stake in Elevance Health in the second quarter worth approximately $688,469,000. Finally, Wellington Management Group LLP raised its holdings in shares of Elevance Health by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health 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 completion of the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. 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.

Analysts Set New Price Targets

Several research firms recently issued reports on ELV. Robert W. Baird lifted their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Bank of America increased their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a report on Thursday, July 16th. Finally, Cantor Fitzgerald upped their target price on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Trading Down 0.4%

Elevance Health stock opened at $392.81 on Tuesday. The stock has a market cap of $85.19 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.68. The business has a 50 day moving average price of $395.32 and a two-hundred day moving average price of $362.78. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same period last year, the business earned $8.84 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is presently 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.