Quadrature Capital Ltd Has $5.22 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Quadrature Capital Ltd cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 61.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,068 shares of the company’s stock after selling 15,985 shares during the quarter. Quadrature Capital Ltd’s holdings in Elevance Health were worth $5,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ELV. Pin Oak Investment Advisors Inc. acquired a new position in shares of Elevance Health in the fourth quarter worth approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health in the 1st quarter valued at $28,000. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health during the fourth quarter worth $31,000. Beaird Harris Wealth Management LLC bought a new position in Elevance Health during the fourth quarter worth $32,000. Finally, Register Financial Advisors LLC acquired a new position in Elevance Health in the first quarter valued at $32,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 2.6 %

Shares of NYSE:ELV traded up $13.47 during midday trading on Friday, hitting $527.50. 1,434,091 shares of the company’s stock were exchanged, compared to its average volume of 1,250,510. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. The company has a market cap of $122.32 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.14 and a beta of 0.84. The stock has a 50 day moving average price of $530.22 and a 200-day moving average price of $516.06.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $42.99 billion. During the same period in the previous year, the company posted $9.04 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ELV shares. Jefferies Financial Group lifted their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Truist Financial lifted their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Morgan Stanley initiated coverage on shares of Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $604.29.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.