Caitong International Asset Management Co. Ltd Takes $70,000 Position in Elevance Health, Inc. $ELV

Caitong International Asset Management Co. Ltd purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 180 shares of the company’s stock, valued at approximately $70,000.

Several other large investors have also modified their holdings of ELV. GAMMA Investing LLC grew its position in shares of Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Elevance Health by 2.2% in the first quarter. Oppenheimer & Co. Inc. now owns 5,744 shares of the company’s stock valued at $2,498,000 after purchasing an additional 123 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Elevance Health by 129.2% in the first quarter. Golden State Wealth Management LLC now owns 463 shares of the company’s stock valued at $202,000 after purchasing an additional 261 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Elevance Health by 5.1% during the first quarter. Pure Financial Advisors LLC now owns 1,973 shares of the company’s stock valued at $858,000 after buying an additional 95 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Elevance Health by 15.7% during the first quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company’s stock valued at $2,922,000 after buying an additional 913 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $342.45 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market cap of $76.11 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.26 and a beta of 0.59. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm’s 50 day moving average is $327.09 and its two-hundred day moving average is $353.39.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $8.37 earnings per share. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Sanford C. Bernstein reduced their price objective on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, October 16th. Morgan Stanley upped their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Leerink Partners reissued a “market perform” rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $397.89.

About Elevance Health

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.