Amundi Raises Position in Elevance Health, Inc. $ELV

Amundi increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 29.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,404,180 shares of the company’s stock after purchasing an additional 320,023 shares during the period. Amundi owned approximately 0.62% of Elevance Health worth $546,170,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Elevance Health by 6.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 53,772 shares of the company’s stock valued at $23,389,000 after buying an additional 3,193 shares during the period. Empower Advisory Group LLC lifted its holdings in Elevance Health by 25.1% in the first quarter. Empower Advisory Group LLC now owns 3,075 shares of the company’s stock valued at $1,338,000 after acquiring an additional 616 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Elevance Health by 2.2% during the 1st quarter. Atria Wealth Solutions Inc. now owns 5,142 shares of the company’s stock worth $2,237,000 after purchasing an additional 111 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Elevance Health by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,302,603 shares of the company’s stock worth $566,580,000 after purchasing an additional 22,073 shares during the period. Finally, Exencial Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at about $204,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial set a $400.00 price objective on shares of Elevance Health in a report on Tuesday, October 14th. Morgan Stanley boosted their price target on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Barclays dropped their price objective on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Wells Fargo & Company decreased their target price on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Finally, Guggenheim raised their price target on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $398.44.

Elevance Health Stock Performance

Elevance Health stock opened at $333.57 on Friday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a market capitalization of $74.13 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.53 and a beta of 0.52. The stock has a fifty day moving average of $333.98 and a two-hundred day moving average of $334.40. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

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

Elevance Health Announces Dividend

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

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.