Elevance Health, Inc. (NYSE:ELV) Stake Reduced by Groupama Asset Managment

Groupama Asset Managment decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 35.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,726 shares of the company’s stock after selling 4,714 shares during the period. Groupama Asset Managment’s holdings in Elevance Health were worth $3,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ELV. Headlands Technologies LLC grew its position in Elevance Health by 20.8% in the fourth quarter. Headlands Technologies LLC now owns 5,809 shares of the company’s stock worth $2,143,000 after buying an additional 1,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock worth $1,826,447,000 after acquiring an additional 115,971 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Elevance Health by 848.6% in the 4th quarter. National Bank of Canada FI now owns 250,872 shares of the company’s stock worth $92,550,000 after acquiring an additional 224,425 shares during the last quarter. Family Legacy Inc. raised its position in shares of Elevance Health by 3.5% during the fourth quarter. Family Legacy Inc. now owns 6,831 shares of the company’s stock worth $2,618,000 after purchasing an additional 232 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Elevance Health by 1.7% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,308 shares of the company’s stock valued at $11,181,000 after purchasing an additional 508 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of several recent analyst reports. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday. Finally, Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Price Performance

NYSE ELV opened at $433.02 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $98.45 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a 50 day moving average price of $406.34 and a two-hundred day moving average price of $418.81.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. Elevance Health’s dividend payout ratio is currently 26.71%.

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.