Elevance Health, Inc. (NYSE:ELV) Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 716.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 260,099 shares of the company’s stock after acquiring an additional 228,256 shares during the period. Assenagon Asset Management S.A.’s holdings in Elevance Health were worth $135,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Bank & Trust Co bought a new position in shares of Elevance Health during the second quarter worth about $27,000. PSI Advisors LLC acquired a new position in Elevance Health during the 3rd quarter valued at about $27,000. Palisade Asset Management LLC bought a new position in Elevance Health in the 1st quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the second quarter valued at approximately $28,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health during the second quarter valued at approximately $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.1 %

Shares of NYSE ELV traded up $8.54 during mid-day trading on Thursday, reaching $424.08. 980,457 shares of the company traded hands, compared to its average volume of 1,092,875. The company’s fifty day moving average is $519.97 and its two-hundred day moving average is $525.88. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $98.56 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the previous year, the firm posted $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.54%. Elevance Health’s dividend payout ratio is 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of several analyst reports. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Bank of America reissued a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley decreased their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, UBS Group dropped their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $551.07.

About Elevance Health

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.