Y Intercept Hong Kong Ltd Acquires 22,745 Shares of Elevance Health, Inc. $ELV

Y Intercept Hong Kong Ltd raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2,836.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,547 shares of the company’s stock after acquiring an additional 22,745 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Elevance Health were worth $9,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Private Wealth Management Group LLC raised its stake in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the period. WPG Advisers LLC bought a new stake in shares of Elevance Health during the first quarter valued at approximately $29,000. North Capital Inc. bought a new stake in shares of Elevance Health during the first quarter valued at approximately $36,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in shares of Elevance Health in the first quarter worth about $40,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.1%

ELV stock opened at $342.45 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The stock has a market capitalization of $76.11 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59. The firm’s fifty day simple moving average is $327.09 and its two-hundred day simple moving average is $352.27.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.37 EPS. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio is currently 27.96%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELV. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. UBS Group reduced their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Argus restated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Finally, Truist Financial set a $400.00 target price on shares of Elevance Health in a report on Tuesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $397.89.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.