NEOS Investment Management LLC Increases Stock Holdings in Elevance Health, Inc. $ELV

NEOS Investment Management LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 14.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,545 shares of the company’s stock after acquiring an additional 4,363 shares during the quarter. NEOS Investment Management LLC’s holdings in Elevance Health were worth $13,746,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. WealthCollab LLC grew its stake in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the period. Kilter Group LLC acquired a new position in shares of Elevance Health during the second quarter worth about $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $32,000. Finally, Main Street Group LTD acquired a new position in Elevance Health during the 1st quarter worth approximately $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 1.9%

Elevance Health stock opened at $407.05 on Friday. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $88.28 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.16 and a beta of 0.69. The firm has a 50-day moving average price of $396.72 and a two-hundred day moving average price of $364.57.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $8.84 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued 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 is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ELV shares. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Truist Financial raised their price objective on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Leerink Partners upped their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, TD Cowen increased their target price on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Insider Buying and Selling

In other Elevance Health news, Director Robert Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were 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 of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Profile

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.