Elevance Health, Inc. $ELV Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 19.0% during the third quarter, HoldingsChannel reports. The firm owned 452,538 shares of the company’s stock after buying an additional 72,097 shares during the period. Assenagon Asset Management S.A.’s holdings in Elevance Health were worth $146,224,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ELV. OLD National Bancorp IN increased its holdings in Elevance Health by 44.8% in the second quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock valued at $2,438,000 after buying an additional 1,939 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after acquiring an additional 790 shares during the period. Lombard Odier Asset Management Switzerland SA increased its stake in Elevance Health by 14.3% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock valued at $5,508,000 after purchasing an additional 1,768 shares in the last quarter. World Investment Advisors raised its holdings in Elevance Health by 17.0% during the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after purchasing an additional 3,988 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after purchasing an additional 817 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $352.06 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $78.24 billion, a PE ratio of 14.39, a P/E/G ratio of 1.67 and a beta of 0.52. The firm has a 50 day simple moving average of $335.42 and a 200-day simple moving average of $331.37. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $8.37 EPS. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ELV. Mizuho dropped their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Barclays cut their target price on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Truist Financial set a $400.00 price target on shares of Elevance Health in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price objective on Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $400.83.

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.