4,799 Shares in Elevance Health, Inc. $ELV Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,799 shares of the company’s stock, valued at approximately $1,845,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health in the 4th quarter worth $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Elevance Health in the 4th quarter worth $38,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health during the 1st quarter valued at about $39,000. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction 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. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ELV. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday. Evercore reiterated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. TD Cowen increased their price target on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group restated a “neutral” rating and set a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Finally, Leerink Partners upped their price objective on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Fifteen research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Down 2.4%

Shares of NYSE:ELV opened at $390.69 on Tuesday. The company has a market cap of $84.73 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $395.48 and a 200 day moving average price of $358.49.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $48.88 billion. During the same period in the previous year, the firm posted $8.84 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

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.