Braidwell LP Sells 8,120 Shares of Elevance Health, Inc. $ELV

Braidwell LP lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 13.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 53,960 shares of the company’s stock after selling 8,120 shares during the period. Braidwell LP’s holdings in Elevance Health were worth $20,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WealthCollab LLC boosted its holdings in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the period. Kilter Group LLC bought a new position in shares of Elevance Health in the second quarter worth $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health in the fourth quarter worth $32,000. Finally, Main Street Group LTD bought a new stake in Elevance Health during the first quarter valued at $39,000. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Raymond James Financial set a $450.00 price target on Elevance Health in a report on Tuesday, July 7th. Morgan Stanley lifted their price target on Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Royal Bank Of Canada cut their price objective on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a report on Thursday, July 16th. Finally, Barclays decreased their price objective on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Up 0.8%

Shares of NYSE:ELV opened at $406.17 on Thursday. The firm has a market capitalization of $88.09 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.10 and a beta of 0.69. 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 52-week low of $274.84 and a 52-week high of $436.24. The firm has a fifty day moving average of $395.92 and a 200 day moving average of $363.79.

Elevance Health (NYSE:ELV) last released 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. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the business posted $8.84 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Elevance Health, Inc. will post 27.18 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. 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 of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 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.