683 Capital Management LLC Has $9.72 Million Stock Holdings in Elevance Health, Inc. $ELV

683 Capital Management LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company’s stock after selling 2,000 shares during the period. 683 Capital Management LLC’s holdings in Elevance Health were worth $9,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WPG Advisers LLC bought a new stake in shares of Elevance Health during the first quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in Elevance Health in the 2nd quarter valued at $32,000. Glass Jacobson Investment Advisors llc boosted its position in Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the last quarter. Finally, Saudi Central Bank acquired a new stake in shares of Elevance Health in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ELV. Mizuho decreased their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Barclays lowered their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $400.83.

Elevance Health Price Performance

ELV opened at $358.95 on Friday. The stock has a market cap of $79.77 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.67 and a beta of 0.52. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $335.31 and a 200 day simple moving average of $332.35.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period in the previous year, the firm earned $8.37 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

About Elevance Health

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.