Sone Capital Management LLC Makes New Investment in Elevance Health, Inc. $ELV

Sone Capital Management LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 13,292 shares of the company’s stock, valued at approximately $5,140,000.

A number of other large investors also recently made changes to their positions in the stock. Kilter Group LLC bought a new position in shares of Elevance Health in the 2nd quarter worth $28,000. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health in the fourth quarter valued at about $32,000. WealthCollab LLC boosted its holdings 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 last quarter. Finally, Elevation Wealth Partners LLC boosted its holdings in Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of recent analyst reports. Barclays lowered their price target on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. UBS Group boosted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Bank of America upped their target price on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Wells Fargo & Company cut their target price on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $402.62 on Tuesday. The business has a 50 day simple moving average of $394.79 and a 200 day simple moving average of $360.49. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market cap of $87.32 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.84 earnings per share. Analysts anticipate that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a dividend of $1.72 per share. 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 dividend payout ratio (DPR) is presently 30.58%.

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.