Mediolanum International Funds Ltd reduced its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,107 shares of the company’s stock after selling 1,856 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Elevance Health were worth $3,163,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Heartland Advisors Inc. grew its stake in Elevance Health by 2.2% during the 1st quarter. Heartland Advisors Inc. now owns 6,831 shares of the company’s stock valued at $2,000,000 after acquiring an additional 145 shares in the last quarter. Atlas Wealth LLC lifted its stake in Elevance Health by 41,499.1% in the 1st quarter. Atlas Wealth LLC now owns 336,953 shares of the company’s stock worth $98,643,000 after purchasing an additional 336,143 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in Elevance Health in the 1st quarter worth approximately $228,000. Assetmark Inc. boosted its holdings in shares of Elevance Health by 37.7% during the 1st quarter. Assetmark Inc. now owns 145,525 shares of the company’s stock worth $42,602,000 after purchasing an additional 39,837 shares during the last quarter. Finally, Main Street Group LTD purchased a new stake in shares of Elevance Health in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.
Elevance Health Stock Performance
NYSE:ELV opened at $381.82 on Tuesday. The stock has a market capitalization of $82.81 billion, a P/E ratio of 16.97, a PEG ratio of 2.10 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $436.24. The company has a 50 day moving average price of $399.56 and a 200 day moving average price of $355.63.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s dividend payout ratio is 30.58%.
Insider Transactions at Elevance Health
In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on ELV shares. Raymond James Financial set a $450.00 price target on Elevance Health in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Truist Financial lifted their price target on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group lowered their price target on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a report on Thursday. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.
Check Out Our Latest Stock Analysis on ELV
Elevance Health Profile
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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