Axa S.A. Increases Stock Holdings in Elevance Health, Inc. $ELV

Axa S.A. increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 83.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,281 shares of the company’s stock after buying an additional 43,434 shares during the quarter. Axa S.A.’s holdings in Elevance Health were worth $37,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in Elevance Health during the first quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in shares of Elevance Health during the 2nd quarter worth $32,000. Glass Jacobson Investment Advisors llc raised its position in shares of Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares during the period. Finally, Saudi Central Bank acquired a new position in Elevance Health in the first quarter valued at $40,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $329.71 on Wednesday. The firm has a 50-day moving average of $334.58 and a two-hundred day moving average of $332.19. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market cap of $73.27 billion, a P/E ratio of 13.48, a PEG ratio of 1.53 and a beta of 0.52. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating 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 company 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 posted $8.37 EPS. Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on ELV shares. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, November 29th. Truist Financial set a $400.00 target price on shares of Elevance Health in a research report on Tuesday, October 14th. UBS Group reduced their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Bank of America raised their target price on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Twelve analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $398.44.

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.