Maple Rock Capital Partners Inc. Has $74.06 Million Stock Holdings in Elevance Health, Inc. $ELV

Maple Rock Capital Partners Inc. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 208.9% in the second quarter, Holdings Channel reports. The institutional investor owned 191,500 shares of the company’s stock after acquiring an additional 129,500 shares during the quarter. Elevance Health makes up approximately 1.5% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 20th largest position. Maple Rock Capital Partners Inc.’s holdings in Elevance Health were worth $74,059,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Elevance Health during the second quarter worth $7,344,424,000. Wellington Management Group LLP grew its stake in Elevance Health by 12.0% in the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after purchasing an additional 984,976 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after purchasing an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

ELV opened at $392.81 on Tuesday. The company has a market cap of $85.19 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.68. The stock has a 50-day moving average of $395.32 and a 200-day moving average of $362.78. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. 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 (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ELV. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a report on Thursday, July 16th. Robert W. Baird raised their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Royal Bank Of Canada reduced their target price on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company dropped their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health 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.