BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 164,154 Shares of Elevance Health, Inc. (NYSE:ELV)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 49.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,095 shares of the company’s stock after selling 164,154 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.07% of Elevance Health worth $86,127,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. abrdn plc increased its holdings in shares of Elevance Health by 86.8% in the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after buying an additional 129,364 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares in the last quarter. Canoe Financial LP boosted its stake in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the 4th quarter valued at $218,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Elevance Health by 114.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 6.0 %

NYSE:ELV traded down $32.95 on Wednesday, reaching $520.19. 4,192,842 shares of the stock traded hands, compared to its average volume of 1,045,143. The company has a market capitalization of $120.90 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.17 and a beta of 0.84. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. The company’s fifty day simple moving average is $534.57 and its 200 day simple moving average is $514.62.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $10.00 by $0.12. The business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $9.04 EPS. Equities analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. Mizuho upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Bank of America increased their price target on shares of Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Jefferies Financial Group increased their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $612.79.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

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.