394,480 Shares in Elevance Health, Inc. $ELV Bought by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent filing with the SEC. The firm acquired 394,480 shares of the company’s stock, valued at approximately $152,558,000. Jupiter Topco LLC owned about 0.18% of Elevance Health at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Stoneridge Investment Partners LLC acquired a new position in shares of Elevance Health in the second quarter worth $970,000. Manning & Napier Advisors LLC boosted its stake in shares of Elevance Health by 1,423.1% during the fourth quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company’s stock valued at $129,152,000 after acquiring an additional 344,237 shares during the last quarter. State of Wyoming acquired a new stake in shares of Elevance Health during the second quarter valued at $1,765,000. Mawer Investment Management Ltd. increased its position in Elevance Health by 10.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company’s stock worth $72,597,000 after purchasing an additional 20,438 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Elevance Health by 7.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 79,811 shares of the company’s stock valued at $30,865,000 after purchasing an additional 5,772 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Elevance Health Trading Up 0.9%

NYSE ELV opened at $402.62 on Thursday. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The company has a 50-day moving average of $395.02 and a 200-day moving average of $361.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market cap of $87.32 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.28 and a beta of 0.68.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same period last year, the company earned $8.84 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $395.00 target price on shares of Elevance Health in a report on Thursday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Guggenheim upped their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Finally, Morgan Stanley lifted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Profile

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.