Candriam S.C.A. Has $23.41 Million Holdings in Elevance Health, Inc. $ELV

Key Points

• Candriam S.C.A. sold 20,660 shares of Elevance Health, decreasing its position by 27.7% during the first quarter, holding a total of 53,831 shares worth $23,414,000.
• Despite a missed earnings estimate with $8.84 EPS compared to the expected $9.30, Elevance Health reported revenue of $49.42 billion for the quarter, exceeding estimates of $48.26 billion.
• Elevance Health's dividend of $1.71 will be paid on September 25th, representing a 2.2% yield, with a payout ratio of 29.11%.

Candriam S.C.A. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 27.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,831 shares of the company's stock after selling 20,660 shares during the period. Candriam S.C.A.'s holdings in Elevance Health were worth $23,414,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its stake in shares of Elevance Health by 0.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 16,616 shares of the company's stock worth $6,128,000 after acquiring an additional 46 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Elevance Health by 11.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,823 shares of the company's stock worth $2,886,000 after acquiring an additional 795 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $3,917,004,000 after acquiring an additional 464,137 shares during the last quarter. Syon Capital LLC raised its stake in shares of Elevance Health by 1.3% in the fourth quarter. Syon Capital LLC now owns 3,698 shares of the company's stock worth $1,364,000 after acquiring an additional 49 shares during the last quarter. Finally, D1 Capital Partners L.P. bought a new position in shares of Elevance Health in the fourth quarter worth about $294,751,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ELV shares. JPMorgan Chase & Co. dropped their target price on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Truist Financial dropped their target price on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Barclays dropped their target price on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $413.81.

Elevance Health Trading Up 2.0%

Shares of ELV traded up $6.2370 on Friday, reaching $315.8370. 2,961,044 shares of the company's stock were exchanged, compared to its average volume of 2,567,187. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $71.12 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.58. The business has a 50 day moving average price of $324.18 and a two-hundred day moving average price of $378.55. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The business 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%.The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $10.12 earnings per share. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

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

Insider Buying and Selling

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

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.