Fidelis Capital Partners LLC Acquires 1,168 Shares of Elevance Health, Inc. (NYSE:ELV)

Fidelis Capital Partners LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 49.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,552 shares of the company’s stock after buying an additional 1,168 shares during the period. Fidelis Capital Partners LLC’s holdings in Elevance Health were worth $1,851,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. Morningstar Investment Services LLC bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $239,244,000. Focused Investors Fund L P purchased a new position in Elevance Health during the first quarter valued at approximately $249,884,000. M&G Plc bought a new stake in Elevance Health during the 1st quarter worth approximately $203,389,000. Finally, Maj Invest Holding A S purchased a new stake in Elevance Health in the 2nd quarter worth approximately $173,753,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Elevance Health stock opened at $539.86 on Friday. The firm has a fifty day simple moving average of $536.19 and a two-hundred day simple moving average of $529.30. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26. The company has a market capitalization of $125.47 billion, a PE ratio of 20.40, a P/E/G ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the previous year, the company posted $9.04 EPS. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. Research analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ELV. Royal Bank of Canada upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. TD Cowen lowered their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a report on Friday. Robert W. Baird started coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price on the stock. Finally, Bank of America reissued a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 over the last three months. 0.35% of the stock is owned by company insiders.

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.