Quadrature Capital Ltd Acquires 8,182 Shares of Elevance Health, Inc. (NYSE:ELV)

Quadrature Capital Ltd boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 56.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,614 shares of the company’s stock after purchasing an additional 8,182 shares during the period. Quadrature Capital Ltd’s holdings in Elevance Health were worth $11,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Mather Group LLC. lifted its stake in Elevance Health by 19.8% during the second quarter. Mather Group LLC. now owns 400 shares of the company’s stock worth $207,000 after purchasing an additional 66 shares during the period. CWM LLC raised its stake in shares of Elevance Health by 14.5% in the second quarter. CWM LLC now owns 8,433 shares of the company’s stock valued at $4,570,000 after acquiring an additional 1,068 shares during the last quarter. BDF Gestion bought a new position in shares of Elevance Health in the second quarter valued at approximately $5,837,000. Capital Investment Advisors LLC raised its stake in shares of Elevance Health by 3.2% in the second quarter. Capital Investment Advisors LLC now owns 861 shares of the company’s stock valued at $467,000 after acquiring an additional 27 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Elevance Health by 2.7% in the second quarter. QRG Capital Management Inc. now owns 81,075 shares of the company’s stock valued at $43,931,000 after acquiring an additional 2,166 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Cantor Fitzgerald cut their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Price Performance

ELV opened at $400.19 on Thursday. The company has a fifty day moving average price of $439.60 and a two-hundred day moving average price of $501.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 52 week low of $391.02 and a 52 week high of $567.26. The firm has a market capitalization of $92.81 billion, a PE ratio of 14.59, a P/E/G ratio of 1.22 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the firm posted $8.99 EPS. Elevance Health’s revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

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.