Jupiter Topco LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 394,480 shares of the company’s stock, valued at approximately $152,558,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WealthCollab LLC grew its stake in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the period. Kilter Group LLC acquired a new position in shares of Elevance Health during the 2nd quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health during the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health during the 4th quarter worth $32,000. Finally, Main Street Group LTD acquired a new stake in Elevance Health in the 1st quarter valued at $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.
Elevance Health Trading Up 0.9%
Shares of NYSE:ELV opened at $402.62 on Thursday. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The company has a market cap of $87.32 billion, a PE ratio of 17.89, a P/E/G ratio of 2.28 and a beta of 0.68. The company’s 50-day moving average price is $395.02 and its 200 day moving average price is $361.40. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on ELV shares. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Mizuho raised their price target on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, June 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Finally, Sanford C. Bernstein set a $488.00 target price on Elevance Health in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $440.90.
Read Our Latest Stock Analysis on Elevance Health
Insider Buying and Selling at Elevance Health
In related 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 of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
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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