First Eagle Investment Management LLC Grows Stake in Elevance Health, Inc. $ELV

Key Points

• First Eagle Investment Management increased its Elevance Health stake by 1.4% in the second quarter, adding 55,905 shares to own 4.19 million shares valued at approximately $1.62 billion. Institutional investors collectively own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, beating estimates of $6.21, while revenue reached $49.83 billion and rose 0.8% year over year.
• The company declared a quarterly dividend of $1.72, equivalent to $6.88 annually and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $440.90.

First Eagle Investment Management LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,188,196 shares of the company's stock after acquiring an additional 55,905 shares during the quarter. Elevance Health accounts for 1.7% of First Eagle Investment Management LLC's portfolio, making the stock its 15th biggest holding. First Eagle Investment Management LLC owned 1.93% of Elevance Health worth $1,619,701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. WealthCollab LLC grew its stake in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after purchasing an additional 27 shares during the period. Kilter Group LLC bought a new position in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $32,000. Finally, Main Street Group LTD bought a new stake in Elevance Health during the first quarter valued at approximately $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $407.05 on Monday. The firm has a fifty day moving average price of $396.72 and a 200-day moving average price of $364.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market cap of $88.28 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the firm earned $8.84 EPS. The company's revenue was up .8% on a year-over-year basis. Equities analysts anticipate that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health's payout ratio is presently 30.58%.

Insider Buying and Selling at Elevance Health

In related news, Director Robert Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group upped their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Robert W. Baird boosted their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Weiss Ratings restated a "hold (c)" rating on shares of Elevance Health in a research note on Thursday, August 13th. JPMorgan Chase & Co. raised their target price on Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada lowered their target price on Elevance Health from $439.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average price target of $440.90.

Elevance Health Company 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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