AIA Group Ltd Trims Position in Elevance Health, Inc. $ELV

Key Points

• AIA Group Ltd cut its Elevance Health stake by 30.3% in the first quarter, selling 21,370 shares and leaving it with 49,186 shares valued at about $14.4 million.
• Elevance Health reported better-than-expected Q2 results, with EPS of $7.45 versus the $6.21 consensus, and raised its full-year outlook, though investors remain wary of margin pressure and Medicaid exposure.
• Analysts stayed broadly positive after earnings: several lifted price targets or reiterated bullish ratings, and MarketBeat now shows a consensus Moderate Buy with a target price of $440.90.

AIA Group Ltd decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,186 shares of the company's stock after selling 21,370 shares during the quarter. AIA Group Ltd's holdings in Elevance Health were worth $14,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ELV. Heartland Advisors Inc. raised its position in Elevance Health by 2.2% in the first quarter. Heartland Advisors Inc. now owns 6,831 shares of the company's stock valued at $2,000,000 after purchasing an additional 145 shares during the period. Atlas Wealth LLC grew its holdings in shares of Elevance Health by 41,499.1% during the 1st quarter. Atlas Wealth LLC now owns 336,953 shares of the company's stock worth $98,643,000 after purchasing an additional 336,143 shares during the period. Kera Capital Partners Inc. acquired a new stake in shares of Elevance Health during the 1st quarter worth about $228,000. Assetmark Inc. increased its position in shares of Elevance Health by 37.7% during the 1st quarter. Assetmark Inc. now owns 145,525 shares of the company's stock worth $42,602,000 after purchasing an additional 39,837 shares during the last quarter. Finally, Main Street Group LTD purchased a new stake in Elevance Health in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health News Summary

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Insiders Place Their Bets

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

Elevance Health Stock Performance

NYSE:ELV opened at $372.68 on Friday. The firm has a market capitalization of $80.82 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.67. The business's fifty day moving average price is $399.55 and its 200 day moving average price is $355.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.48. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts' consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $8.84 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.08 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health's payout ratio is presently 30.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. Weiss Ratings raised shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 18th. JPMorgan Chase & Co. increased their price objective 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. Morgan Stanley lifted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a report on Thursday, June 4th. Royal Bank Of Canada cut their target price on Elevance Health from $439.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Thursday. Finally, Barclays decreased their price target on Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a research note on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus 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.

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