Groupama Asset Managment Raises Position in Elevance Health, Inc. (NYSE:ELV)

Groupama Asset Managment raised its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 91.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,440 shares of the company's stock after buying an additional 6,419 shares during the period. Groupama Asset Managment's holdings in Elevance Health were worth $70,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company's stock worth $5,557,759,000 after buying an additional 129,709 shares during the period. Sanders Capital LLC lifted its stake in shares of Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP boosted its position in shares of Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company's stock worth $2,054,641,000 after purchasing an additional 190,118 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $5.68 during mid-day trading on Tuesday, reaching $389.98. 2,201,310 shares of the company were exchanged, compared to its average volume of 1,212,379. Elevance Health, Inc. has a twelve month low of $379.29 and a twelve month high of $567.26. The stock has a market capitalization of $90.44 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.14 and a beta of 0.83. The company's 50-day simple moving average is $431.73 and its 200-day simple moving average is $497.93. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $8.99 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.67%. Elevance Health's dividend payout ratio (DPR) is currently 23.77%.

Analyst Ratings Changes

A number of brokerages have recently commented on ELV. Barclays lowered their price target on Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Finally, Argus downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $539.20.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company's stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

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.