100,109 Shares in Elevance Health, Inc. $ELV Bought by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC bought 100,109 shares of Elevance Health for approximately $38.94 million, making it the 7th largest position in their portfolio.
• Analysts recently updated their ratings on Elevance Health, with Barclays raising the target price to $395.00 while Wells Fargo increased theirs to $412.00, indicating a general positive outlook.
• Despite a revenue increase of 14.3% year-over-year, Elevance Health missed earnings estimates with an EPS of $8.84 compared to the forecast of $9.30.

International Assets Investment Management LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 100,109 shares of the company's stock, valued at approximately $38,938,000. Elevance Health comprises 1.9% of International Assets Investment Management LLC's investment portfolio, making the stock its 7th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its stake in Elevance Health by 3.9% during the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company's stock worth $8,251,000 after purchasing an additional 790 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Elevance Health in the first quarter valued at $299,000. Dynamic Advisor Solutions LLC lifted its stake in Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock valued at $3,125,000 after buying an additional 817 shares during the last quarter. Focus Partners Wealth lifted its stake in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after buying an additional 982 shares during the last quarter. Finally, Asio Capital LLC lifted its stake in Elevance Health by 7.1% in the second quarter. Asio Capital LLC now owns 15,371 shares of the company's stock valued at $5,979,000 after buying an additional 1,015 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays raised their target price on Elevance Health from $373.00 to $395.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Sanford C. Bernstein cut their target price on Elevance Health from $445.00 to $420.00 and set an "outperform" rating on the stock in a research note on Thursday. Argus reiterated a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. The Goldman Sachs Group initiated coverage on Elevance Health in a report on Tuesday. They set a "neutral" rating and a $343.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Elevance Health from $330.00 to $412.00 and gave the company an "overweight" rating in a report on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $404.72.

Insider Transactions at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Elevance Health Price Performance

Shares of ELV opened at $348.93 on Friday. The firm has a market capitalization of $78.57 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The stock's fifty day moving average is $321.94 and its 200-day moving average is $355.81.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.12 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

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.

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