iSAM Funds UK Ltd Sells 1,452 Shares of Elevance Health, Inc. $ELV

iSAM Funds UK Ltd reduced its position in Elevance Health, Inc. (NYSE:ELVFree Report) by 53.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,240 shares of the company’s stock after selling 1,452 shares during the quarter. iSAM Funds UK Ltd’s holdings in Elevance Health were worth $480,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. WealthCollab LLC raised 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 valued at $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC bought a new position in shares of Elevance Health during the second quarter valued at approximately $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health during the fourth quarter valued at approximately $32,000. Finally, Main Street Group LTD purchased a new position in Elevance Health during the first quarter valued at approximately $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The stock was 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 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 SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of ELV opened at $406.17 on Thursday. The company has a market cap of $88.09 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 2.10 and a beta of 0.69. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve 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. The company has a 50 day moving average of $395.92 and a two-hundred day moving average of $363.79.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping 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 business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the prior year, the firm posted $8.84 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ELV. JPMorgan Chase & Co. upped their target price on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. TD Cowen lifted their price target on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Morgan Stanley boosted their price target on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Finally, Robert W. Baird raised their price objective on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $440.90.

View Our Latest Stock Report on Elevance Health

About Elevance Health

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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