Assenagon Asset Management S.A. Sells 414,729 Shares of Elevance Health, Inc. $ELV

Key Points

• Assenagon Asset Management cut its Elevance Health position by 78.3% in the first quarter, selling 414,729 shares and leaving it with 114,779 shares valued at about $33.6 million.
• Elevance Health reported better-than-expected Q1 earnings, posting $12.58 EPS versus the $10.74 estimate, while revenue came in at $49.49 billion, ahead of forecasts.
• The stock has also seen positive analyst sentiment, with several firms raising price targets and the consensus rating standing at Moderate Buy with an average target of $416.11.

Assenagon Asset Management S.A. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 78.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,779 shares of the company's stock after selling 414,729 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Elevance Health worth $33,602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Kemnay Advisory Services Inc. bought a new stake in Elevance Health during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health in the fourth quarter worth about $32,000. ORG Partners LLC grew its position in shares of Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock worth $38,000 after purchasing an additional 59 shares in the last quarter. Dorato Capital Management bought a new stake in Elevance Health during the 4th quarter valued at approximately $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Elevance Health during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 1.9%

Elevance Health stock opened at $394.86 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The business's 50-day simple moving average is $383.03 and its two-hundred day simple moving average is $349.01. The company has a market cap of $85.75 billion, a PE ratio of 16.80, a PEG ratio of 2.19 and a beta of 0.67.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities analysts anticipate that Elevance Health, Inc. will post 26.92 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were given a dividend of $1.72 per share. The ex-dividend date was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price 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. Mizuho increased their target price on Elevance Health from $435.00 to $465.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. Robert W. Baird raised their target price on shares of Elevance Health from $317.00 to $331.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Bank of America boosted their price target 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. Finally, Citigroup raised shares of Elevance Health to a "buy" rating in a research note on Wednesday, April 29th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $416.11.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company's stock, valued at approximately $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 can be accessed through this link. Company insiders own 0.34% of the company's stock.

Elevance Health 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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