Elevance Health, Inc. $ELV Shares Bought by Groupama Asset Managment

Groupama Asset Managment boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 12.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,797 shares of the company’s stock after buying an additional 953 shares during the quarter. Groupama Asset Managment’s holdings in Elevance Health were worth $3,356,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Arkadios Wealth Advisors increased its holdings in Elevance Health by 74.5% in the 1st quarter. Arkadios Wealth Advisors now owns 1,932 shares of the company’s stock valued at $840,000 after purchasing an additional 825 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of Elevance Health by 14.9% during the first quarter. Mesirow Financial Investment Management Inc. now owns 765 shares of the company’s stock worth $333,000 after buying an additional 99 shares during the period. Sound View Wealth Advisors Group LLC grew its stake in shares of Elevance Health by 24.3% in the first quarter. Sound View Wealth Advisors Group LLC now owns 1,188 shares of the company’s stock valued at $517,000 after buying an additional 232 shares in the last quarter. Wealthquest Corp acquired a new stake in shares of Elevance Health in the first quarter valued at $411,000. Finally, Nicolet Advisory Services LLC purchased a new stake in shares of Elevance Health in the 1st quarter valued at $223,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $332.15 on Friday. The business has a 50-day simple moving average of $333.18 and a 200-day simple moving average of $335.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a market cap of $73.82 billion, a PE ratio of 13.58, a P/E/G ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter last year, the company earned $8.37 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ELV shares. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Sanford C. Bernstein lowered their price objective on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, October 16th. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Hold” and a consensus target price of $398.44.

About Elevance Health

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.