Banco Santander S.A. Boosts Position in Elevance Health, Inc. (NYSE:ELV)

Banco Santander S.A. grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,684 shares of the company’s stock after purchasing an additional 4,117 shares during the quarter. Banco Santander S.A.’s holdings in Elevance Health were worth $21,676,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ELV. Pathway Financial Advisers LLC raised its holdings in shares of Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares during the period. International Assets Investment Management LLC grew its stake in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after acquiring an additional 523,910 shares during the period. Maj Invest Holding A S acquired a new position in shares of Elevance Health during the 2nd quarter valued at $173,753,000. Finally, First Eagle Investment Management LLC boosted its position in shares of Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Cantor Fitzgerald dropped their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Mizuho reduced their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company cut their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada lowered their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Trading Up 0.1 %

Shares of ELV opened at $397.91 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $92.28 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.17 and a beta of 0.85. Elevance Health, Inc. has a 52-week low of $391.02 and a 52-week high of $567.26. The stock has a fifty day moving average price of $466.51 and a two-hundred day moving average price of $510.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the company earned $8.99 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is 23.77%.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.

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.