1,250 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,250 shares of the company’s stock, valued at approximately $648,000.

Several other hedge funds have also recently bought and sold shares of ELV. SeaCrest Wealth Management LLC raised its stake in Elevance Health by 4.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 2,310 shares of the company’s stock worth $1,109,000 after acquiring an additional 95 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Elevance Health in the fourth quarter valued at about $353,000. Global Retirement Partners LLC raised its holdings in shares of Elevance Health by 3.0% in the fourth quarter. Global Retirement Partners LLC now owns 3,313 shares of the company’s stock valued at $1,568,000 after buying an additional 98 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Elevance Health by 59.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,013 shares of the company’s stock valued at $1,421,000 after buying an additional 1,123 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Elevance Health by 3,888.6% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 18,587 shares of the company’s stock valued at $8,765,000 after buying an additional 18,121 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV traded down $3.90 during trading hours on Monday, reaching $523.60. The company’s stock had a trading volume of 71,391 shares, compared to its average volume of 1,058,520. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The company’s 50-day moving average is $530.22 and its 200-day moving average is $516.31. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $555.35. The firm has a market cap of $121.42 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.17 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period in the prior year, the firm posted $9.04 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ELV shares. UBS Group lifted their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Truist Financial boosted their price objective on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Mizuho boosted their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley began coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $604.29.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Company 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.