Elevance Health, Inc. (NYSE:ELV) Position Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 50.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,810 shares of the company's stock after selling 117,842 shares during the period. Assenagon Asset Management S.A. owned 0.05% of Elevance Health worth $49,503,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock worth $7,926,028,000 after acquiring an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Elevance Health by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after buying an additional 464,137 shares during the period. Wellington Management Group LLP raised its holdings in Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after buying an additional 1,893,947 shares during the period. Geode Capital Management LLC raised its holdings in Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after buying an additional 115,971 shares during the period. Finally, Sanders Capital LLC raised its holdings in Elevance Health by 1.7% in the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after buying an additional 76,896 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELV has been the topic of several research reports. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Guggenheim restated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $498.87.

Elevance Health Stock Down 0.4%

Shares of ELV stock traded down $1.73 during mid-day trading on Friday, reaching $384.49. 958,480 shares of the company were exchanged, compared to its average volume of 1,554,321. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company has a market capitalization of $86.87 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.18 and a beta of 0.60. The business's 50 day simple moving average is $404.71 and its 200 day simple moving average is $400.19.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

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.