Elevance Health, Inc. $ELV Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 133.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 34,285 shares of the company’s stock after buying an additional 19,612 shares during the quarter. Engineers Gate Manager LP’s holdings in Elevance Health were worth $13,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. WealthCollab LLC boosted its position in shares of 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 acquired a new stake in shares of Elevance Health in the second quarter valued at about $28,000. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health during the 4th quarter valued at approximately $32,000. Finally, Main Street Group LTD purchased a new stake in shares of Elevance Health during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $416.58 on Friday. The company has a 50-day simple moving average of $397.04 and a 200-day simple moving average of $366.40. 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 company has a market cap of $90.34 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.69. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELV. TD Cowen lifted their price objective on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Evercore reiterated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a report on Thursday, July 16th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Finally, Leerink Partners raised their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.