Magnetar Financial LLC bought a new position in Elevance Health, Inc. (NYSE:ELV – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,250 shares of the company’s stock, valued at approximately $648,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lazard Asset Management LLC grew its stake in Elevance Health by 12.3% in the first quarter. Lazard Asset Management LLC now owns 142,757 shares of the company’s stock valued at $74,023,000 after purchasing an additional 15,586 shares during the last quarter. LRI Investments LLC purchased a new position in Elevance Health in the first quarter valued at about $865,000. 1832 Asset Management L.P. grew its stake in Elevance Health by 7.2% in the first quarter. 1832 Asset Management L.P. now owns 621,360 shares of the company’s stock valued at $322,200,000 after purchasing an additional 41,605 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Elevance Health by 20.0% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 600 shares of the company’s stock valued at $311,000 after purchasing an additional 100 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in Elevance Health by 2.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 5,345 shares of the company’s stock valued at $2,772,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.
Insider Buying and Selling at Elevance Health
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on Elevance Health
Elevance Health Trading Down 0.7 %
ELV traded down $3.90 during mid-day trading on Monday, hitting $523.60. 71,391 shares of the stock were exchanged, compared to its average volume of 1,058,520. The firm’s fifty day moving average is $530.22 and its two-hundred day moving average is $516.31. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $555.35. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market cap of $121.42 billion, a PE ratio of 19.94, a PEG ratio of 1.17 and a beta of 0.84.
Elevance Health (NYSE:ELV – Get Free Report) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.04 EPS. Equities analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.
Elevance Health Profile
Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.
Read More
- Five stocks we like better than Elevance Health
- P/E Ratio Calculation: How to Assess Stocks
- Nearly 100% Accurate Indicator Reveals Top Stocks to Buy
- How to Calculate Inflation Rate
- Time to Take a Bite of This Stock’s Enticing Value
- Best Aerospace Stocks Investing
- 4 Reasons to Buy This AI Leader After the Stock Split
Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).
Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.