Quantbot Technologies LP Makes New Investment in Elevance Health, Inc. $ELV

Quantbot Technologies LP acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,461 shares of the company’s stock, valued at approximately $952,000.

A number of other institutional investors also recently modified their holdings of ELV. Kilter Group LLC purchased a new position in Elevance Health during the 2nd quarter valued at about $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $32,000. WealthCollab LLC increased its stake in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares during the period. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Elevance Health Trading Up 0.9%

NYSE ELV opened at $402.62 on Thursday. The stock has a market cap of $87.32 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.28 and a beta of 0.68. The stock’s fifty day moving average price is $395.02 and its 200-day moving average price is $361.40. 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.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for 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%. Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $8.84 EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued 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 dividend yield of 1.7%. Elevance Health’s dividend payout ratio is presently 30.58%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial raised their price target on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Mizuho lifted 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. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $440.90.

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.