Assenagon Asset Management S.A. Increases Stake in Elevance Health, Inc. $ELV

Assenagon Asset Management S.A. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 19.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 452,538 shares of the company’s stock after buying an additional 72,097 shares during the quarter. Assenagon Asset Management S.A. owned 0.20% of Elevance Health worth $146,224,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of Elevance Health in the first quarter valued at $29,000. Vermillion & White Wealth Management Group LLC grew its stake in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Elevance Health during the 2nd quarter worth about $32,000. Glass Jacobson Investment Advisors llc raised its position in Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in Elevance Health in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial set a $400.00 price objective on Elevance Health in a research report on Tuesday, October 14th. Guggenheim boosted their price target on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Sanford C. Bernstein reduced their price objective on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.83.

Elevance Health Price Performance

Shares of ELV opened at $352.06 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The stock has a market cap of $78.24 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.52. 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 firm has a fifty day moving average price of $335.42 and a 200 day moving average price of $331.37.

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, topping the consensus estimate 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 quarter last year, the company posted $8.37 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s payout ratio is 27.96%.

Elevance Health Company 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.