Elevance Health, Inc. $ELV Stake Lifted by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 150.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,509 shares of the company’s stock after buying an additional 101,158 shares during the period. Eurizon Capital SGR S.p.A. owned approximately 0.08% of Elevance Health worth $65,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ELV. BlackRock Inc. acquired a new position in Elevance Health in the second quarter valued at $7,344,424,000. State Street Corp grew its holdings in shares of Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after purchasing an additional 137,914 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 12.0% during the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after purchasing an additional 984,976 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Elevance Health by 1.4% during the second quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock worth $1,619,701,000 after purchasing an additional 55,905 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Elevance Health during the second quarter worth about $1,246,349,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.2%

Shares of Elevance Health stock opened at $430.16 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $92.94 billion, a P/E ratio of 18.34, a PEG ratio of 2.05 and a beta of 0.63. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $450.69. The company’s fifty day moving average is $415.11 and its two-hundred day moving average is $374.67.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business had revenue of $50.44 billion during the quarter, compared to analysts’ expectations of $49.28 billion. During the same period in the prior year, the company earned $6.03 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Analysts forecast that Elevance Health, Inc. will post 29.15 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, December 4th. Elevance Health’s payout ratio is 29.34%.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the completion of the sale, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This represents a 34.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ratnakar Lavu sold 1,300 shares of Elevance Health stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $440.00, for a total value of $572,000.00. Following the completion of the transaction, the executive vice president owned 14,849 shares in the company, valued at $6,533,560. This trade represents a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ELV. The Goldman Sachs Group reissued a “neutral” rating and issued a $451.00 target price on shares of Elevance Health in a report on Friday, October 23rd. Wells Fargo & Company raised their price target on Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Morgan Stanley lifted their price target on Elevance Health from $404.00 to $449.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 22nd. Robert W. Baird lifted their price target on Elevance Health from $393.00 to $406.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Finally, Barclays boosted their price objective on Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $456.48.

Elevance Health Company Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.