Quantbot Technologies LP Purchases Shares of 2,461 Elevance Health, Inc. $ELV

Quantbot Technologies LP purchased a new position in Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,461 shares of the company’s stock, valued at approximately $952,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sei Investments Co. grew its holdings in shares of 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 purchasing an additional 11,745 shares in the last quarter. Glenview Trust co raised its stake in Elevance Health by 41.5% in the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after purchasing an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Elevance Health by 6.9% during the second 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. grew its stake 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 worth $16,478,000 after buying an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after buying an additional 23,180 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $402.62 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a fifty day moving average of $395.02 and a 200-day moving average of $361.40. The stock has a market capitalization of $87.32 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the firm posted $8.84 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is 30.58%.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the 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 completion of the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of several research reports. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research report on Tuesday, July 7th. UBS Group increased their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and raised their price target for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Morgan Stanley upped their price objective on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Finally, Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $440.90.

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.