GSA Capital Partners LLP purchased a new position in Elevance Health, Inc. (NYSE:ELV – Free Report) in the second quarter, HoldingsChannel reports. The fund purchased 9,037 shares of the company’s stock, valued at approximately $3,495,000.
Several other institutional investors have also recently added to or reduced their stakes in ELV. 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 worth $27,000 after purchasing an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health during the fourth quarter worth about $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Elevance Health during the fourth quarter worth about $38,000. Finally, Main Street Group LTD acquired a new position in Elevance Health in the first quarter worth about $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Elevance Health
In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was 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 owned by corporate insiders.
Wall Street Analyst Weigh In
View Our Latest Report on Elevance Health
Elevance Health Price Performance
ELV opened at $400.63 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $396.05 and its 200 day moving average price is $358.15. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The firm has a market cap of $86.88 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68.
Elevance Health (NYSE:ELV – Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating 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 return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.84 earnings per share. As a group, sell-side analysts expect that Elevance Health, Inc. will post 27.07 earnings per share for the current year.
Elevance Health Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 30.58%.
About Elevance Health
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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