Quadrature Capital Ltd Acquires Shares of 77,244 Elevance Health, Inc. $ELV

Quadrature Capital Ltd bought a new position in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,244 shares of the company’s stock, valued at approximately $30,045,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Scotia Capital Inc. lifted its holdings in Elevance Health by 5.6% in the second quarter. Scotia Capital Inc. now owns 22,812 shares of the company’s stock valued at $8,873,000 after acquiring an additional 1,202 shares during the period. Level Four Advisory Services LLC lifted its stake in shares of Elevance Health by 5.9% in the 2nd quarter. Level Four Advisory Services LLC now owns 16,947 shares of the company’s stock valued at $6,592,000 after purchasing an additional 950 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Elevance Health by 5.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 158,136 shares of the company’s stock valued at $61,509,000 after purchasing an additional 8,427 shares during the period. Groupama Asset Managment boosted its holdings in Elevance Health by 12.1% during the second quarter. Groupama Asset Managment now owns 8,797 shares of the company’s stock worth $3,356,000 after buying an additional 953 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Elevance Health during the second quarter valued at $1,221,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.7%

Shares of Elevance Health stock opened at $338.61 on Friday. The company has a current ratio of 1.56, a quick 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 firm has a market capitalization of $75.25 billion, a PE ratio of 13.84, a P/E/G ratio of 1.23 and a beta of 0.60. The firm’s 50-day moving average price is $332.82 and its 200 day moving average price is $336.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $8.37 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELV. TD Cowen lifted their price objective on shares of Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group cut their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Elevance Health in a report on Monday. JPMorgan Chase & Co. increased their price target on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Mizuho cut their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $398.44.

Elevance Health Company 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.