Quadrature Capital Ltd Has $11.76 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Quadrature Capital Ltd boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 56.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,614 shares of the company's stock after purchasing an additional 8,182 shares during the period. Quadrature Capital Ltd's holdings in Elevance Health were worth $11,759,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Private Ocean LLC increased its position in Elevance Health by 6.7% in the 2nd quarter. Private Ocean LLC now owns 348 shares of the company's stock valued at $189,000 after acquiring an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. grew its stake in shares of Elevance Health by 1.9% during the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company's stock valued at $666,000 after purchasing an additional 23 shares during the last quarter. Cypress Wealth Services LLC boosted its position in Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock valued at $353,000 after buying an additional 23 shares during the last quarter. FSM Wealth Advisors LLC increased its stake in shares of Elevance Health by 4.4% in the 2nd quarter. FSM Wealth Advisors LLC now owns 568 shares of the company's stock valued at $308,000 after buying an additional 24 shares during the period. Finally, Quotient Wealth Partners LLC increased its stake in shares of Elevance Health by 3.9% in the 2nd quarter. Quotient Wealth Partners LLC now owns 635 shares of the company's stock valued at $344,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Down 1.1 %

Elevance Health stock traded down $4.42 during midday trading on Thursday, reaching $394.06. The stock had a trading volume of 1,094,019 shares, compared to its average volume of 1,193,807. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm's fifty day simple moving average is $439.60 and its 200-day simple moving average is $501.50. The stock has a market capitalization of $91.39 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.21 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the business posted $8.99 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is 23.77%.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ELV. Stephens reiterated an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Cantor Fitzgerald lowered their target price on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a report on Friday, October 18th. Finally, Morgan Stanley cut their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.

Elevance Health Profile

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.