Marathon Asset Management Ltd Acquires 3,859 Shares of Elevance Health, Inc. $ELV

Marathon Asset Management Ltd lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,395 shares of the company’s stock after purchasing an additional 3,859 shares during the period. Elevance Health comprises approximately 3.2% of Marathon Asset Management Ltd’s holdings, making the stock its 7th biggest holding. Marathon Asset Management Ltd owned 0.12% of Elevance Health worth $86,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CreativeOne Wealth LLC lifted its position in shares of Elevance Health by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 1,328 shares of the company’s stock valued at $578,000 after acquiring an additional 79 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Elevance Health during the 1st quarter worth about $764,000. WPG Advisers LLC purchased a new stake in shares of Elevance Health during the first quarter worth about $29,000. Magnetar Financial LLC raised its position in shares of Elevance Health by 126.0% in the first quarter. Magnetar Financial LLC now owns 4,432 shares of the company’s stock valued at $1,928,000 after buying an additional 2,471 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Elevance Health by 37.6% in the first quarter. Evergreen Capital Management LLC now owns 1,218 shares of the company’s stock valued at $530,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $349.84 on Monday. The company has a market cap of $77.75 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.52. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $334.07 and a two-hundred day moving average price of $329.16. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same period in the previous year, the company posted $8.37 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, December 5th. Elevance Health’s payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

Several research firms have commented on ELV. Guggenheim lifted their target price on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Sanford C. Bernstein decreased their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Mizuho dropped their target price on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Robert W. Baird raised their price target on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $320.00 price objective (down previously from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. Twelve investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $396.21.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.