Hsbc Holdings PLC Cuts Stock Holdings in Elevance Health, Inc. $ELV

Hsbc Holdings PLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 506,504 shares of the company’s stock after selling 3,462 shares during the quarter. Hsbc Holdings PLC’s holdings in Elevance Health were worth $177,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ELV. Sei Investments Co. lifted its holdings in Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after purchasing an additional 11,745 shares in the last quarter. Glenview Trust co grew its holdings in shares of Elevance Health by 41.5% during the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after buying an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of 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 worth $25,650,000 after buying an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Elevance Health by 5.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after buying an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Elevance Health by 111.8% in the second quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after buying an additional 23,180 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.1%

Shares of ELV stock opened at $388.77 on Friday. The company’s 50-day moving average price is $375.30 and its 200-day moving average price is $346.91. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a market cap of $84.43 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.98.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same period last year, the business earned $11.97 earnings per share. Elevance Health’s revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities analysts predict that Elevance Health, Inc. will post 26.93 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio is 29.26%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ELV shares. Leerink Partners set a $364.00 price target on shares of Elevance Health in a research report on Thursday, April 23rd. Truist Financial increased their price objective on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 1st. The Goldman Sachs Group raised their target price on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Morgan Stanley boosted their target price 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, UBS Group upped their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $416.11.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on 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 owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by corporate insiders.

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.