Elevance Health, Inc. $ELV Shares Purchased by iSAM Funds UK Ltd

iSAM Funds UK Ltd raised its position in Elevance Health, Inc. (NYSE:ELV) by 129.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,262 shares of the company’s stock after purchasing an additional 2,972 shares during the period. iSAM Funds UK Ltd’s holdings in Elevance Health were worth $2,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC acquired a new position in Elevance Health during the first quarter worth about $263,000. AlphaCore Capital LLC acquired a new position in shares of Elevance Health during the 1st quarter worth approximately $258,000. Townsquare Capital LLC lifted its stake in Elevance Health by 12.6% in the 1st quarter. Townsquare Capital LLC now owns 7,170 shares of the company’s stock valued at $3,118,000 after buying an additional 803 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Elevance Health during the 1st quarter valued at $131,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Elevance Health during the first quarter worth $2,116,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $330.65 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The firm has a market capitalization of $73.48 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.53 and a beta of 0.52. The business’s 50-day simple moving average is $334.44 and its 200-day simple moving average is $332.49.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same quarter last year, the firm posted $8.37 earnings per share. Elevance Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays reduced their price objective on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Mizuho cut their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. TD Cowen upped their target price on Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.