Impax Asset Management Group plc Decreases Holdings in Elevance Health, Inc. $ELV

Impax Asset Management Group plc reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,530 shares of the company’s stock after selling 1,140 shares during the quarter. Impax Asset Management Group plc’s holdings in Elevance Health were worth $10,708,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in shares of Elevance Health during the 1st quarter valued at about $29,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Elevance Health during the second quarter valued at approximately $32,000. Glass Jacobson Investment Advisors llc raised its stake in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank purchased a new position in Elevance Health in the first quarter worth about $40,000. Finally, Trust Co. of Toledo NA OH bought a new stake in Elevance Health during the second quarter valued at approximately $43,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.2%

Shares of ELV opened at $328.16 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a market cap of $72.93 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The company’s 50-day moving average price is $329.49 and its 200 day moving average price is $342.44. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the previous year, the business posted $8.37 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ELV. Weiss Ratings lowered Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Bank of America boosted their price objective on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Mizuho dropped their target price on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Barclays cut their target price on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Finally, Guggenheim boosted their target price on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Twelve equities 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $397.33.

Insider Activity

In related news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

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.