Hsbc Holdings PLC Trims Holdings in Elevance Health, Inc. $ELV

Hsbc Holdings PLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 506,504 shares of the company’s stock after selling 3,462 shares during the period. Hsbc Holdings PLC owned about 0.23% of Elevance Health worth $177,578,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in Elevance Health during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $32,000. ORG Partners LLC raised its position in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after acquiring an additional 59 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Elevance Health during the 4th quarter valued at approximately $38,000. Finally, Dorato Capital Management bought a new position in Elevance Health during the fourth quarter worth $41,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Leerink Partners set a $364.00 price target on Elevance Health in a report on Thursday, April 23rd. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and raised their target price for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. UBS Group boosted their price target on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $419.16.

Elevance Health Price Performance

NYSE ELV opened at $416.97 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $427.19. The firm has a market capitalization of $90.55 billion, a PE ratio of 17.74, a P/E/G ratio of 2.37 and a beta of 0.67. The company’s 50 day simple moving average is $391.29 and its 200 day simple moving average is $351.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same period last year, the company posted $11.97 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were issued a $1.72 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio is currently 29.26%.

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.