683 Capital Management LLC Buys 24,000 Shares of Elevance Health, Inc. $ELV

683 Capital Management LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 133.3% during the 4th quarter, Holdings Channel reports. The fund owned 42,000 shares of the company’s stock after purchasing an additional 24,000 shares during the period. Elevance Health comprises approximately 0.6% of 683 Capital Management LLC’s holdings, making the stock its 26th largest position. 683 Capital Management LLC’s holdings in Elevance Health were worth $14,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Elevance Health in the 4th quarter worth $5,941,000. Victory Capital Management Inc. boosted its position in shares of Elevance Health by 31.1% in the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock worth $149,182,000 after purchasing an additional 109,462 shares in the last quarter. Bright Rock Capital Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth $7,362,000. Prana Capital Management LP raised its stake in Elevance Health by 798.9% in the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock worth $16,684,000 after acquiring an additional 45,889 shares during the last quarter. Finally, Loews Corp raised its stake in Elevance Health by 107.5% in the 3rd quarter. Loews Corp now owns 110,000 shares of the company’s stock worth $35,543,000 after acquiring an additional 57,000 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

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

Elevance Health Trading Down 1.4%

ELV opened at $392.04 on Thursday. The stock has a market capitalization of $85.13 billion, a PE ratio of 16.68, a P/E/G ratio of 2.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $426.98. The business’s 50 day moving average price is $372.34 and its 200 day moving average price is $346.21.

Elevance Health (NYSE:ELV) last announced its 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. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be given a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s payout ratio is presently 29.26%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Mizuho boosted their target price on Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Finally, The Goldman Sachs Group upped their price objective on Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Company 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.