Amundi Lowers Holdings in Elevance Health, Inc. $ELV

Key Points

• Amundi has reduced its stake in Elevance Health, Inc. by 16.2% during the first quarter, selling 209,645 shares, leaving it with 1,084,157 shares valued at approximately $490.8 million.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health, increasing her ownership by almost 6% and reflecting confidence in the company's prospects.
• Elevance Health recently announced a quarterly dividend of $1.71 per share, indicating a yield of 2.1% and a payout ratio of 29.11% based on its current earnings.

Amundi cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,084,157 shares of the company's stock after selling 209,645 shares during the period. Amundi owned approximately 0.48% of Elevance Health worth $490,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC boosted its stake in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after purchasing an additional 38 shares during the period. WPG Advisers LLC acquired a new stake in Elevance Health in the 1st quarter valued at about $29,000. Riverview Trust Co lifted its stake in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. North Capital Inc. acquired a new stake in Elevance Health during the first quarter worth approximately $36,000. Finally, Orion Capital Management LLC acquired a new stake in Elevance Health during the fourth quarter worth approximately $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Robert W. Baird dropped their price target on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Barclays raised their target price on Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a report on Thursday. Guggenheim lowered their target price on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Finally, Leerink Partners reiterated a "market perform" rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $411.06.

Insider Buying and Selling

In related news, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction dated 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 transaction, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Down 1.8%

Shares of ELV stock traded down $5.61 on Monday, reaching $308.03. 1,982,199 shares of the company were exchanged, compared to its average volume of 1,975,969. The company has a market cap of $69.36 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.15 and a beta of 0.59. The company has a 50-day moving average of $312.04 and a 200-day moving average of $373.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $559.95.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data 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 company had revenue of $49.42 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $10.12 EPS. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Elevance Health Company 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.