Amundi Sells 1,049,127 Shares of Elevance Health, Inc. $ELV

Key Points

• Amundi cut its Elevance Health stake by 38.9% in the second quarter, selling 1,049,127 shares and retaining 1.64 million shares valued at approximately $636 million.
• Analysts remain broadly positive, with 15 Buy ratings and eight Holds producing a consensus “Moderate Buy” rating and an average price target of $440.90.
• Elevance reported quarterly EPS of $7.45, surpassing estimates of $6.21, while revenue reached $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, implying a 1.7% annual yield.

Amundi reduced its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 38.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,644,537 shares of the company's stock after selling 1,049,127 shares during the quarter. Amundi owned 0.76% of Elevance Health worth $635,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. WealthCollab LLC raised its position in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC purchased a new position in shares of Elevance Health during the 2nd quarter valued at about $28,000. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health in the 4th quarter worth approximately $32,000. Finally, Main Street Group LTD purchased a new stake in Elevance Health in the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on ELV shares. Guggenheim lifted their price target on shares of Elevance Health from $399.00 to $455.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Bank of America lifted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a "hold" rating to a "buy" rating and boosted their price target for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Barclays reduced their price objective on Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Finally, Evercore restated a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $440.90.

Insider Buying and Selling at Elevance Health

In related news, Director Robert Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction 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 trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by corporate insiders.

Elevance Health Stock Down 0.1%

Shares of NYSE:ELV opened at $407.05 on Monday. The stock's 50-day moving average is $396.72 and its 200 day moving average is $364.70. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The company has a market cap of $88.28 billion, a PE ratio of 18.09, a P/E/G ratio of 2.12 and a beta of 0.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion during the quarter, compared to analysts' expectations of $48.88 billion. During the same period last year, the company posted $8.84 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 30.58%.

About Elevance Health

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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