Fulcrum Asset Management LLP Reduces Position in Elevance Health, Inc. $ELV

Fulcrum Asset Management LLP decreased its position in Elevance Health, Inc. (NYSE:ELV) by 80.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,009 shares of the company’s stock after selling 4,186 shares during the period. Fulcrum Asset Management LLP’s holdings in Elevance Health were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ELV. Kilter Group LLC acquired a new position in Elevance Health in the second quarter valued at $28,000. Kemnay Advisory Services Inc. acquired a new position in Elevance Health during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the 4th quarter valued at $32,000. WealthCollab LLC lifted its stake in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.0%

ELV opened at $395.28 on Friday. The firm has a market cap of $85.72 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The business has a 50 day moving average price of $395.36 and a 200 day moving average price of $362.06.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same period in the prior year, the business earned $8.84 earnings per share. Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were 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 approximately $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ELV. Raymond James Financial set a $450.00 price target on Elevance Health in a report on Tuesday, July 7th. Cantor Fitzgerald boosted their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a research report on Thursday, July 16th. Finally, Robert W. Baird raised their price objective on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $440.90.

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.