4,799 Shares in Elevance Health, Inc. $ELV Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,799 shares of the company’s stock, valued at approximately $1,845,000.

A number of other hedge funds have also recently modified their holdings of the business. WealthCollab LLC raised its holdings in shares of Elevance Health by 42.2% in 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. Kemnay Advisory Services Inc. purchased a new position in Elevance Health during the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health during the 4th quarter valued at $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Elevance Health in the 4th quarter valued at $38,000. Finally, Main Street Group LTD bought a new position in Elevance Health in the 1st quarter valued at $39,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 2.4%

Shares of NYSE ELV opened at $390.69 on Tuesday. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24. The business has a fifty day moving average price of $395.48 and a 200 day moving average price of $358.49. The stock has a market capitalization of $84.73 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52.

Elevance Health (NYSE:ELV) last posted its earnings results 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 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 firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.84 earnings per share. Equities research analysts expect that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. Elevance Health’s payout ratio is presently 30.58%.

Insider Activity at Elevance Health

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

Wall Street Analyst Weigh In

ELV has been the subject of several research analyst reports. Royal Bank Of Canada decreased their target price on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Robert W. Baird upped their price target on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Bank of America lifted their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Company 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.