Landscape Capital Management L.L.C. Buys Shares of 6,084 Elevance Health, Inc. $ELV

Landscape Capital Management L.L.C. bought a new position in shares of Elevance Health, Inc. (NYSE:ELVFree Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,084 shares of the company’s stock, valued at approximately $2,353,000.

Several other institutional investors and hedge funds also recently modified their holdings of ELV. BlackRock Inc. purchased a new position in shares of Elevance Health during the 2nd quarter worth approximately $7,344,424,000. Bank of New York Mellon Corp acquired a new position in shares of Elevance Health during the 2nd quarter worth approximately $1,246,349,000. Norges Bank purchased a new stake in Elevance Health in the 4th quarter valued at approximately $1,058,165,000. Wellington Management Group LLP lifted its stake in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after buying an additional 1,668,679 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after buying an additional 1,607,274 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ELV shares. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Barclays reduced their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Wells Fargo & Company decreased their price objective on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research report on Thursday, July 16th. Finally, Mizuho boosted their target price on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Get Our Latest Stock Report on Elevance Health

Insiders Place Their Bets

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 stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Elevance Health Trading Up 1.1%

Shares of ELV opened at $400.66 on Friday. The stock has a fifty day moving average of $394.76 and a two-hundred day moving average of $359.92. 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 company has a market capitalization of $86.89 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24.

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

Elevance Health Dividend Announcement

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. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is 30.58%.

Elevance Health Profile

(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.

Further Reading

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

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