Hsbc Holdings PLC Has $149.61 Million Holdings in Elevance Health, Inc. $ELV

Hsbc Holdings PLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,067 shares of the company’s stock after buying an additional 4,563 shares during the period. Hsbc Holdings PLC’s holdings in Elevance Health were worth $149,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Money Concepts Capital Corp grew its position in Elevance Health by 7.9% during the first quarter. Money Concepts Capital Corp now owns 3,133 shares of the company’s stock worth $917,000 after buying an additional 229 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich increased its stake in Elevance Health by 44.1% during the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 274,158 shares of the company’s stock worth $80,260,000 after acquiring an additional 83,894 shares during the period. Cvfg LLC raised its holdings in Elevance Health by 4.8% in the 1st quarter. Cvfg LLC now owns 1,612 shares of the company’s stock valued at $472,000 after acquiring an additional 74 shares in the last quarter. Unison Advisors LLC raised its holdings in Elevance Health by 0.4% in the 1st quarter. Unison Advisors LLC now owns 7,430 shares of the company’s stock valued at $2,175,000 after acquiring an additional 32 shares in the last quarter. Finally, Greatmark Investment Partners Inc. lifted its position in shares of Elevance Health by 5.0% during the 1st quarter. Greatmark Investment Partners Inc. now owns 38,622 shares of the company’s stock valued at $11,306,000 after acquiring an additional 1,845 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Trending Headlines about Elevance Health

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Citigroup raised shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Finally, Truist Financial upped their price target on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction 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. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $372.68 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.48 and a current ratio of 1.52. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $436.24. The stock has a market capitalization of $80.82 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.67. The stock has a fifty day moving average of $399.55 and a 200-day moving average of $355.35.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating 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 business had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same period last year, the firm posted $8.84 earnings per share. Elevance Health’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Elevance Health, Inc. will post 27.08 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

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.