Hsbc Holdings PLC Buys 32,736 Shares of Elevance Health, Inc. (NYSE:ELV)

Hsbc Holdings PLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 760,804 shares of the company's stock after purchasing an additional 32,736 shares during the period. Hsbc Holdings PLC owned 0.33% of Elevance Health worth $280,793,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Mutual Advisors LLC grew its stake in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank boosted its position in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after buying an additional 3,049 shares during the last quarter. Diversified Trust Co increased its stake in shares of Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after buying an additional 2,725 shares during the period. JB Capital LLC lifted its stake in shares of Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after acquiring an additional 8,038 shares during the period. Finally, Tidal Investments LLC increased its position in Elevance Health by 60.6% in the third quarter. Tidal Investments LLC now owns 10,485 shares of the company's stock worth $5,452,000 after purchasing an additional 3,956 shares during the period. 89.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 in the last 90 days. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ELV shares. Truist Financial boosted their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $509.44.

Elevance Health Stock Down 1.7 %

NYSE ELV traded down $7.24 during trading on Friday, hitting $421.55. The stock had a trading volume of 1,534,488 shares, compared to its average volume of 1,457,101. The company has a market capitalization of $95.43 billion, a PE ratio of 16.46, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company's 50-day moving average price is $420.00 and its two-hundred day moving average price is $408.48. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. Elevance Health's dividend payout ratio is 26.71%.

Elevance Health Company 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.