WINTON GROUP Ltd Makes New Investment in Elevance Health, Inc. $ELV

WINTON GROUP Ltd bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel reports. The institutional investor bought 2,040 shares of the company’s stock, valued at approximately $789,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Engineers Gate Manager LP increased its position in Elevance Health by 133.7% in the second quarter. Engineers Gate Manager LP now owns 34,285 shares of the company’s stock worth $13,259,000 after buying an additional 19,612 shares during the last quarter. Cidel Asset Management Inc. raised its stake in shares of Elevance Health by 7.4% in the second quarter. Cidel Asset Management Inc. now owns 5,038 shares of the company’s stock valued at $1,948,000 after buying an additional 348 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Elevance Health by 11.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,586 shares of the company’s stock valued at $1,387,000 after buying an additional 369 shares during the last quarter. RFG Advisory LLC grew its stake in shares of Elevance Health by 4.1% during the 2nd quarter. RFG Advisory LLC now owns 2,046 shares of the company’s stock worth $791,000 after acquiring an additional 81 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Elevance Health by 30.1% during the 2nd quarter. Allworth Financial LP now owns 2,002 shares of the company’s stock worth $774,000 after acquiring an additional 463 shares during the period. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ELV shares. Raymond James Financial set a $450.00 price objective on Elevance Health in a report on Tuesday, July 7th. Morgan Stanley upped their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. The Goldman Sachs Group reiterated a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Mizuho lifted their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Guggenheim boosted their price target on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Trading Up 1.4%

Elevance Health stock opened at $424.78 on Tuesday. 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 fifty-two week low of $274.84 and a fifty-two week high of $436.24. The stock has a market cap of $92.12 billion, a P/E ratio of 18.88, a PEG ratio of 2.18 and a beta of 0.69. The firm’s fifty day moving average price is $397.40 and its 200-day moving average price is $367.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion during 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 firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $8.84 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s payout ratio is presently 30.58%.

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.