UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 453,078 Shares of Elevance Health, Inc. $ELV

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 18.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,065,537 shares of the company’s stock after selling 453,078 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Elevance Health were worth $798,805,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. WealthCollab LLC increased its holdings in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC bought a new position in shares of Elevance Health in the second quarter valued at approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $32,000. Finally, Main Street Group LTD bought a new stake in Elevance Health during the first quarter worth $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Mizuho increased their price target on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada reduced their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $395.28 on Friday. The company has a market capitalization of $85.72 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.26 and a beta of 0.68. The company’s 50-day moving average is $395.36 and its 200 day moving average is $362.06. 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.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $8.84 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 27.18 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 $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is 30.58%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company’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 transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

About Elevance Health

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.