Bank of New York Mellon Corp grew its position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 18.1% in the first quarter, Holdings Channel reports. The institutional investor owned 2,845,280 shares of the company’s stock after buying an additional 436,576 shares during the period. Bank of New York Mellon Corp’s holdings in Elevance Health were worth $832,956,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in ELV. Norges Bank acquired a new position in shares of Elevance Health during the fourth quarter worth about $1,058,165,000. Wellington Management Group LLP lifted its position in Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares during the period. Invesco Ltd. boosted its holdings in Elevance Health by 50.3% in the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after purchasing an additional 1,306,390 shares in the last quarter. Finally, Baupost Group LLC MA boosted its holdings in Elevance Health by 114.1% in the 3rd quarter. Baupost Group LLC MA now owns 1,319,000 shares of the company’s stock valued at $426,195,000 after purchasing an additional 703,000 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.
Elevance Health Stock Performance
ELV opened at $372.20 on Friday. The stock has a market cap of $80.83 billion, a P/E ratio of 16.54, a P/E/G ratio of 2.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $399.65 and its 200 day simple moving average is $355.22. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $436.24.
Elevance Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 29.26%.
More Elevance Health News
Here are the key news stories impacting Elevance Health this week:
- Positive Sentiment: Elevance Health beat Q2 estimates on both EPS and revenue, with EPS of $7.45 versus expectations around $6.21 and revenue of $49.83 billion topping forecasts. Business Wire release
- Positive Sentiment: The company raised full-year 2026 adjusted EPS guidance to at least $27.00, signaling management sees improving operating performance and better cost control ahead. Reuters article
- Positive Sentiment: Several analysts turned more constructive after the report, with price target increases from firms including Guggenheim, Barclays, Robert W. Baird, and Truist, which can support sentiment on the stock. Benzinga article
- Neutral Sentiment: Recent coverage and earnings-call transcripts highlight improving medical cost management and stronger CarelonRx revenues, but also note ongoing strain in parts of the business and a mixed operating backdrop. Earnings call transcript
- Negative Sentiment: Some reports pointed to margin pressure and softer membership trends, which appear to be weighing on the stock despite the earnings beat. MSN article
- Negative Sentiment: The company is also leaving more Medicaid markets, adding a strategic headwind that may temper enthusiasm about the near-term growth outlook. Yahoo Finance article
Insider Buying and Selling
In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ELV. Jefferies Financial Group cut their target price on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a report on Thursday. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Leerink Partners set a $364.00 target price on shares of Elevance Health in a research report on Thursday, April 23rd. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $439.43.
About Elevance Health
Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.
Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.
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