Elevance Health, Inc. $ELV Shares Sold by Hsbc Holdings PLC

by · The Markets Daily

Hsbc Holdings PLC reduced its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 18.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 557,524 shares of the company’s stock after selling 123,930 shares during the period. Hsbc Holdings PLC owned about 0.25% of Elevance Health worth $216,818,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Elevance Health in the first quarter valued at $789,943,000. Sanders Capital LLC boosted its stake in Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Vanguard Group Inc. boosted its stake in Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after buying an additional 704,790 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares during the period. Finally, Boston Partners increased its stake in shares of Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after acquiring an additional 605,689 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.9%

NYSE ELV opened at $332.15 on Friday. The stock has a market cap of $73.82 billion, a P/E ratio of 13.58, a PEG ratio of 1.23 and a beta of 0.60. The company’s fifty day simple moving average is $333.18 and its 200-day simple moving average is $335.91. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75.

Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same period last year, the business earned $8.37 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. Elevance Health’s payout ratio is 27.96%.

Analysts Set New Price Targets

ELV has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Bank of America lifted their price target on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Finally, Barclays reduced their target price on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Hold” and an average price target of $398.44.

Get Our Latest Stock Report on ELV

About Elevance Health

(Free Report)

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.

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