Stonehage Fleming Financial Services Holdings Ltd lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,677 shares of the company’s stock after selling 1,384 shares during the period. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Elevance Health were worth $4,516,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. WealthCollab LLC raised its holdings in shares of Elevance Health by 42.2% in 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 last quarter. Kilter Group LLC purchased a new stake in shares of Elevance Health during the second quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health during the fourth quarter valued at $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health in the 4th quarter valued at $32,000. Finally, Main Street Group LTD acquired a new position in shares of Elevance Health in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Guggenheim lifted their price target on Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Truist Financial increased their price objective on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Bank of America raised their price objective on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Raymond James Financial set a $450.00 target price on Elevance Health in a report on Tuesday, July 7th. Finally, Wells Fargo & Company dropped their target price on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $440.90.
Elevance Health Trading Down 0.8%
Shares of Elevance Health stock opened at $399.17 on Friday. The firm has a 50-day simple moving average of $395.23 and a two-hundred day simple moving average of $361.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. 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 $86.57 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68.
Elevance Health (NYSE:ELV – Get Free Report) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating 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 firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same period last year, the firm earned $8.84 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders 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 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.
Insider Buying and Selling
In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on 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 $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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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