Achmea Investment Management B.V. Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Achmea Investment Management B.V. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 44,743 shares of the company’s stock after buying an additional 1,533 shares during the period. Achmea Investment Management B.V.’s holdings in Elevance Health were worth $24,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ELV. Tower Research Capital LLC TRC boosted its position in shares of Elevance Health by 114.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock worth $14,765,000 after purchasing an additional 16,737 shares during the period. Brave Warrior Advisors LLC boosted its holdings in Elevance Health by 7.9% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock worth $828,367,000 after buying an additional 129,055 shares during the period. New Mexico Educational Retirement Board boosted its holdings in Elevance Health by 14.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after buying an additional 1,800 shares during the period. Bank of Nova Scotia increased its stake in Elevance Health by 276.0% in the 4th quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock worth $38,823,000 after buying an additional 60,436 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after acquiring an additional 6,610 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 0.1 %

Shares of NYSE ELV opened at $543.39 on Thursday. The stock has a market capitalization of $126.01 billion, a P/E ratio of 20.54, a PEG ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The business’s 50 day moving average is $534.39 and its two-hundred day moving average is $527.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.04 EPS. As a group, research analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Ratings Changes

Several research firms recently issued reports on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Tuesday. Stephens restated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research note on Thursday, September 5th. Morgan Stanley began coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective on the stock. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company reduced their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Buy” and a consensus target price of $604.29.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,058 shares of company stock worth $17,588,116. Insiders own 0.35% of the company’s stock.

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.