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

Eurizon Capital SGR S.p.A. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 150.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,509 shares of the company’s stock after acquiring an additional 101,158 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Elevance Health were worth $65,714,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ELV. Activest Wealth Management grew its stake in shares of Elevance Health by 146.2% during the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock worth $25,000 after purchasing an additional 38 shares during the period. WealthCollab LLC increased its holdings in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC acquired a new stake in shares of Elevance Health in the second quarter valued at about $28,000. Main Street Group LTD acquired a new stake in shares of Elevance Health in the first quarter valued at about $39,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 10,584 shares of Elevance Health 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 transaction, the chief financial officer directly owned 19,919 shares in the company, valued at $8,766,949.47. The trade was a 34.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ratnakar Lavu sold 1,300 shares of the company’s 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 sale, the executive vice president directly owned 14,849 shares in the company, valued at approximately $6,533,560. The trade was a 8.05% decrease in their position. The SEC filing for this sale provides additional information. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Guggenheim lifted their price target on shares of Elevance Health from $460.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research note on Thursday, July 16th. Robert W. Baird upped their price target on Elevance Health from $393.00 to $406.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Finally, Wells Fargo & Company upped their price target on Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a report on Tuesday, October 27th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $456.48.

Elevance Health Trading Up 0.2%

NYSE:ELV opened at $430.16 on Friday. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $450.69. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $415.11 and a 200-day simple moving average of $374.67. The company has a market capitalization of $92.94 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.05 and a beta of 0.63.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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 firm had revenue of $50.44 billion for the quarter, compared to analysts’ expectations of $49.28 billion. During the same period in the prior year, the company earned $6.03 EPS. The firm’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Elevance Health, Inc. will post 29.15 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

About Elevance Health

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.