8 Knots Management LLC Purchases 333,635 Shares of Elevance Health, Inc. $ELV

8 Knots Management LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 187.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 511,585 shares of the company’s stock after acquiring an additional 333,635 shares during the quarter. Elevance Health accounts for 20.7% of 8 Knots Management LLC’s investment portfolio, making the stock its 3rd biggest position. 8 Knots Management LLC’s holdings in Elevance Health were worth $179,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rossby Financial LCC lifted its stake in shares of Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the fourth quarter worth about $32,000. ORG Partners LLC lifted its stake in shares of Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares in the last quarter. Dorato Capital Management acquired a new position in shares of Elevance Health during the fourth quarter worth about $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elevance Health during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Truist Financial boosted their price objective on Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 1st. Bank of America boosted their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Robert W. Baird boosted their price objective on Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Finally, Leerink Partners set a $364.00 price objective on Elevance Health in a report on Thursday, April 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $416.11.

Elevance Health Trading Up 1.1%

Shares of NYSE ELV opened at $403.74 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock’s 50 day simple moving average is $366.62 and its 200 day simple moving average is $344.86. The company has a market cap of $87.68 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts expect that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is presently 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.