AGF Management Ltd. Has $4 Million Stock Holdings in Elevance Health, Inc. $ELV

AGF Management Ltd. decreased its position in Elevance Health, Inc. (NYSE:ELV) by 12.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,292 shares of the company’s stock after selling 1,403 shares during the quarter. AGF Management Ltd.’s holdings in Elevance Health were worth $4,003,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ELV. Cornerstone Investment Partners LLC grew its stake in Elevance Health by 9.0% in the 2nd quarter. Cornerstone Investment Partners LLC now owns 194,029 shares of the company’s stock valued at $75,470,000 after buying an additional 16,081 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in Elevance Health during the second quarter valued at about $730,000. Malaga Cove Capital LLC acquired a new stake in shares of Elevance Health in the second quarter valued at about $328,000. Modera Wealth Management LLC increased its stake in shares of Elevance Health by 47.2% in the second quarter. Modera Wealth Management LLC now owns 34,999 shares of the company’s stock worth $13,613,000 after purchasing an additional 11,220 shares during the period. Finally, Cetera Trust Company N.A increased its stake in shares of Elevance Health by 2.0% in the second quarter. Cetera Trust Company N.A now owns 4,181 shares of the company’s stock worth $1,626,000 after purchasing an additional 80 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 1.0%

Shares of Elevance Health stock opened at $317.51 on Monday. The stock has a market capitalization of $70.56 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $329.41 and a 200 day simple moving average of $344.28.

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

Elevance Health Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health’s payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Argus restated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Leerink Partners reiterated a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Sanford C. Bernstein reduced their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Mizuho lowered their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $397.33.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Profile

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.