APG Asset Management N.V. Has $77.30 Million Holdings in Elevance Health, Inc. $ELV

Key Points

• APG Asset Management N.V. reduced its stake in Elevance Health, Inc. by 6.7%, selling 13,815 shares, leaving them with 191,981 shares valued at approximately $77 million.
• Insider transactions included Director Susan D. Devore purchasing 1,200 shares and CEO Gail Boudreaux buying 8,500 shares of Elevance Health, contributing to a 52.13% and 5.96% increase in their respective positions.
• Analysts have set new price targets for Elevance Health, with UBS Group lowering its target from $555 to $484, while JPMorgan reduced theirs from $472 to $384, indicating mixed sentiments about the stock's future performance.

APG Asset Management N.V. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191,981 shares of the company's stock after selling 13,815 shares during the quarter. APG Asset Management N.V. owned approximately 0.08% of Elevance Health worth $77,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Elevance Health during the first quarter worth approximately $789,943,000. GAMMA Investing LLC raised its stake in shares of Elevance Health by 81,726.5% during the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after buying an additional 1,472,712 shares during the last quarter. Vanguard Group Inc. increased its position in Elevance Health by 3.1% during 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. Boston Partners grew its holdings in Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company's stock valued at $372,039,000 after buying an additional 605,689 shares during the period. Finally, Two Sigma Investments LP grew its holdings in Elevance Health by 247.7% in the 4th quarter. Two Sigma Investments LP now owns 501,494 shares of the company's stock valued at $185,001,000 after buying an additional 357,257 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares of the company's stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction on Friday, July 18th. The shares were acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ELV shares. Morgan Stanley reduced their price target on Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Guggenheim dropped their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Argus reissued a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Finally, Truist Financial dropped their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Twelve equities 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $413.81.

Elevance Health Price Performance

ELV stock traded down $0.48 during trading hours on Wednesday, hitting $309.55. 1,462,827 shares of the stock traded hands, compared to its average volume of 1,971,391. The stock has a 50-day simple moving average of $321.63 and a 200 day simple moving average of $377.46. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $567.26. The company has a market cap of $69.71 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.15 and a beta of 0.58. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

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.