QRG Capital Management Inc. Has $14.71 Million Position in Elevance Health, Inc. $ELV

QRG Capital Management Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 50.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,811 shares of the company’s stock after selling 38,150 shares during the quarter. QRG Capital Management Inc.’s holdings in Elevance Health were worth $14,707,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ELV. Private Wealth Management Group LLC raised its holdings in shares of Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC bought a new stake in Elevance Health during the 1st quarter worth approximately $29,000. North Capital Inc. purchased a new stake in shares of Elevance Health in the first quarter worth approximately $36,000. Saudi Central Bank purchased a new position in shares of Elevance Health during the first quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC bought a new stake in Elevance Health during the first quarter worth $43,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Up 3.2%

Elevance Health stock opened at $351.11 on Friday. The firm has a 50 day moving average price of $307.98 and a 200-day moving average price of $361.19. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $510.24. The company has a market capitalization of $79.06 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.28 and a beta of 0.59.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. During the same quarter in the previous year, the company posted $10.12 EPS. Elevance Health’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gail Boudreaux bought 8,500 shares of the business’s stock in a transaction on Friday, July 18th. The shares were acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Leerink Partnrs cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Barclays increased their target price on shares of Elevance Health from $327.00 to $373.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. UBS Group cut their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Argus reiterated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $411.06.

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.