Islay Capital Management LLC Acquires New Position in Elevance Health, Inc. $ELV

Islay Capital Management LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,472 shares of the company’s stock, valued at approximately $867,000.

Other large investors have also modified their holdings of the company. Sei Investments Co. increased its position in Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock worth $63,666,000 after buying an additional 11,745 shares in the last quarter. Glenview Trust co increased its position in Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after purchasing an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Elevance Health by 6.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after purchasing an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after purchasing an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Elevance Health by 111.8% during the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after purchasing an additional 23,180 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was 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 in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ELV shares. Morgan Stanley boosted their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. UBS Group lifted their target price on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Jefferies Financial Group reduced their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, Barclays lifted their price objective on Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $416.11.

Elevance Health Stock Down 0.7%

Shares of NYSE ELV opened at $401.19 on Tuesday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $426.98. The firm has a fifty day moving average of $368.63 and a 200-day moving average of $345.42. The stock has a market capitalization of $87.12 billion, a PE ratio of 17.06, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same period in the previous year, the company earned $11.97 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

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.