PDT Partners LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,400 shares of the company’s stock, valued at approximately $3,249,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. WealthCollab LLC lifted its holdings 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 acquiring an additional 27 shares during the last quarter. Kilter Group LLC purchased a new stake in shares of Elevance Health in the 2nd quarter valued at $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health during the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health in the 4th quarter worth $32,000. Finally, Main Street Group LTD purchased a new position in Elevance Health in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.
Elevance Health Price Performance
ELV opened at $402.62 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market capitalization of $87.32 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. The stock’s 50 day moving average price is $395.02 and its 200-day moving average price is $361.40. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24.
Elevance Health Announces Dividend
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 paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.
Insider Transactions at Elevance Health
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s 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 directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Truist Financial lifted their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their target price on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Leerink Partners raised their price target on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Barclays lowered their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Finally, Mizuho increased their price objective on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $440.90.
Check Out Our Latest Stock Analysis on ELV
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.
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