Elevance Health, Inc. $ELV Shares Acquired by Amundi

Amundi increased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 145.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,693,664 shares of the company's stock after purchasing an additional 1,597,497 shares during the period. Amundi owned 1.24% of Elevance Health worth $788,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Wellington Management Group LLP boosted its position in Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock worth $2,906,051,000 after acquiring an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company's stock valued at $2,610,261,000 after acquiring an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Elevance Health by 10.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company's stock worth $1,764,231,000 after purchasing an additional 455,946 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Elevance Health by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company's stock worth $1,410,219,000 after purchasing an additional 24,271 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company's stock worth $1,368,505,000 after purchasing an additional 1,306,390 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELV. Cantor Fitzgerald increased their target price on Elevance Health from $400.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Mizuho lifted their price target on Elevance Health from $435.00 to $465.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Royal Bank Of Canada dropped their price objective on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating for the company in a research note on Thursday, July 16th. UBS Group raised their target price on shares of Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Finally, Guggenheim boosted their target price on shares of Elevance Health from $399.00 to $455.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $440.90.

Elevance Health Trading Up 1.9%

Shares of ELV opened at $385.67 on Wednesday. The stock's 50-day moving average is $398.05 and its two-hundred day moving average is $356.65. The stock has a market cap of $83.64 billion, a PE ratio of 17.14, a P/E/G ratio of 2.18 and a beta of 0.67. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.84 earnings per share. Equities analysts forecast that Elevance Health, Inc. will post 27.04 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's payout ratio is presently 30.58%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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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