Sone Capital Management LLC Purchases New Position in Elevance Health, Inc. $ELV

Sone Capital Management LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,292 shares of the company’s stock, valued at approximately $5,140,000.

Several other large investors have also recently added to or reduced their stakes in ELV. Trajan Wealth LLC acquired a new stake in shares of Elevance Health during the second quarter worth approximately $41,315,000. Peak Asset Management LLC acquired a new position in shares of Elevance Health in the 2nd quarter worth approximately $1,002,000. Fiduciary Financial Advisors bought a new stake in Elevance Health during the 2nd quarter worth approximately $45,000. Manning & Napier Advisors LLC bought a new stake in Elevance Health during the 2nd quarter worth approximately $142,522,000. Finally, Hyperion Capital Advisors LP acquired a new stake in Elevance Health during the 2nd quarter valued at $16,600,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Elevance Health Stock Performance

ELV stock opened at $402.62 on Tuesday. The company has a 50 day moving average price of $394.79 and a 200 day moving average price of $360.49. 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 debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market capitalization of $87.32 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.29 and a beta 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 analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $8.84 EPS. Analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The company 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. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Analysts Set New Price Targets

Several brokerages have issued reports on ELV. Leerink Partners lifted their price objective on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Raymond James Financial set a $450.00 target price on Elevance Health in a report on Tuesday, July 7th. Robert W. Baird lifted their price target on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Guggenheim upped their price target on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

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.