Elevance Health, Inc. $ELV Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 206.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 23,057 shares of the company’s stock after acquiring an additional 15,535 shares during the period. Mediolanum International Funds Ltd’s holdings in Elevance Health were worth $8,796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Vanguard Group Inc. grew its holdings in shares of Elevance Health by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after purchasing an additional 704,790 shares during the period. Sanders Capital LLC lifted its position in Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Elevance Health by 9.7% during the second quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock worth $1,429,498,000 after buying an additional 324,399 shares during the period. Orbis Allan Gray Ltd increased its position in shares of Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Elevance Health by 13.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after acquiring an additional 324,040 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $321.73 on Friday. The firm has a market capitalization of $71.50 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.23 and a beta of 0.60. The firm’s fifty day simple moving average is $330.76 and its 200-day simple moving average is $338.63. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

ELV has been the subject of several research analyst reports. Bank of America raised their price target on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Truist Financial set a $400.00 target price on shares of Elevance Health in a report on Tuesday, October 14th. Morgan Stanley boosted their price target on shares of Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $397.33.

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.