AEGON ASSET MANAGEMENT UK Plc Sells 3,887 Shares of Elevance Health, Inc. $ELV

Key Points

• AEGON ASSET MANAGEMENT UK Plc reduced its stake in Elevance Health by 16.0%, selling 3,887 shares to hold a total of 20,429 shares worth approximately $7.95 million.
• Analysts have mixed views on Elevance Health, with target prices ranging from $297.00 to $398.00 and a general average target of $408.33, indicating a "Moderate Buy" rating.
• Insider activity includes CEO Gail Boudreaux purchasing 8,500 shares at $286.94 each, reflecting a 5.96% increase in her ownership stake.

AEGON ASSET MANAGEMENT UK Plc decreased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,429 shares of the company's stock after selling 3,887 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Elevance Health were worth $7,946,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock worth $9,635,281,000 after purchasing an additional 666,534 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company's stock worth $1,239,276,000 after purchasing an additional 680,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Elevance Health by 13.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company's stock worth $1,164,041,000 after purchasing an additional 324,040 shares in the last quarter. Invesco Ltd. boosted its stake in Elevance Health by 1.2% in the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company's stock worth $920,501,000 after purchasing an additional 24,833 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Elevance Health by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company's stock worth $845,394,000 after purchasing an additional 29,174 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ELV shares. Guggenheim upped their target price on shares of Elevance Health from $360.00 to $398.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Robert W. Baird lowered their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Morgan Stanley upped their target price on shares of Elevance Health from $316.00 to $359.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Leerink Partners restated a "market perform" rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $408.33.

Insider Activity at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director owned 3,502 shares of the company's stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.

Elevance Health Price Performance

NYSE ELV opened at $349.46 on Thursday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $497.34. The firm has a market capitalization of $78.69 billion, a P/E ratio of 14.87, a PEG ratio of 1.28 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $319.56 and a 200-day moving average price of $357.50.

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

About Elevance Health

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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