Groupama Asset Managment Reduces Holdings in Elevance Health, Inc. $ELV

Key Points

• Groupama Asset Management has reduced its stake in Elevance Health, Inc. by 10.1%, holding 7,844 shares valued at approximately $3.39 million as of its latest SEC filing.
• Elevance Health reported earnings of $8.84 EPS for the last quarter, missing expectations by $0.46, though revenue increased by 14.3% year-over-year to $49.42 billion.
• The company announced a quarterly dividend of $1.71 per share, equating to an annual yield of 2.2%, with an ex-dividend date set for September 10th.

Groupama Asset Managment cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,844 shares of the company's stock after selling 882 shares during the period. Groupama Asset Managment's holdings in Elevance Health were worth $3,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Accredited Wealth Management LLC purchased a new position in Elevance Health in the fourth quarter valued at $25,000. Private Wealth Management Group LLC increased its holdings in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after buying an additional 38 shares during the last quarter. Riverview Trust Co lifted its position in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. North Capital Inc. purchased a new stake in Elevance Health in the first quarter valued at $36,000. Finally, Orion Capital Management LLC purchased a new stake in Elevance Health in the fourth quarter valued at $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV traded up $6.2370 during trading on Friday, hitting $315.8370. 2,961,044 shares of the company were exchanged, compared to its average volume of 2,567,187. The company has a market cap of $71.12 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.16 and a beta of 0.58. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $567.26. The firm's fifty day moving average price is $324.18 and its 200 day moving average price is $378.55. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELV - Get Free Report) last issued its 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). The company had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.12 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Susan D. Devore bought 1,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares of the company's stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Argus restated a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. JPMorgan Chase & Co. cut their price objective on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Finally, Morgan Stanley cut their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $413.81.

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.