Carmignac Gestion Has $512,000 Holdings in Elevance Health, Inc. $ELV

Key Points

• Carmignac Gestion sold 461,600 shares of Elevance Health, Inc., reducing its holdings by 99.7% to just 1,176 shares, valued at $512,000.
• Elevance Health's latest quarterly earnings report showed an EPS of $8.84, missing estimates, but revenue increased by 14.3% year-over-year to $49.42 billion.
• The company declared a quarterly dividend of $1.71 per share, reflecting an annualized yield of 2.2%, with a payout ratio of 29.11%.

Carmignac Gestion lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 99.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,176 shares of the company's stock after selling 461,600 shares during the quarter. Carmignac Gestion's holdings in Elevance Health were worth $512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. Nuveen LLC acquired a new stake in Elevance Health in the first quarter worth approximately $789,943,000. GAMMA Investing LLC grew its stake in shares of Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after purchasing an additional 1,472,712 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in Elevance Health during the fourth quarter worth approximately $294,751,000. Vanguard Group Inc. lifted its position in shares of Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after acquiring an additional 666,534 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company's stock worth $372,039,000 after acquiring an additional 605,689 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased 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 $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The stock was acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ELV. UBS Group restated a "buy" rating and set a $484.00 price objective (down previously from $555.00) on shares of Elevance Health in a report on Monday, July 14th. Argus reiterated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Barclays lowered their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $413.81.

Elevance Health Stock Performance

Shares of Elevance Health stock traded up $6.2370 during trading on Friday, reaching $315.8370. The company's stock had a trading volume of 2,961,044 shares, compared to its average volume of 2,567,187. The business's fifty day moving average price is $324.18 and its 200-day moving average price is $378.55. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $567.26. The firm has a market cap of $71.12 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

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

Elevance Health Dividend Announcement

The company 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's payout ratio is currently 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.