ARGA Investment Management LP Invests $85.78 Million in Elevance Health, Inc. $ELV

ARGA Investment Management LP bought a new position in Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 265,470 shares of the company’s stock, valued at approximately $85,779,000. Elevance Health makes up about 2.3% of ARGA Investment Management LP’s investment portfolio, making the stock its 12th biggest position.

A number of other large investors have also recently added to or reduced their stakes in ELV. Vermillion & White Wealth Management Group LLC lifted its position in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Elevance Health during the second quarter worth $32,000. Motco lifted its holdings in shares of Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the last quarter. True Wealth Design LLC increased its stake in Elevance Health by 431.8% in the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock worth $38,000 after purchasing an additional 95 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 0.4%

Shares of ELV stock opened at $370.77 on Friday. The company has a market cap of $82.40 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $349.17 and its two-hundred day moving average is $328.94.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The company 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%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $8.37 earnings per share. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Analyst Ratings Changes

ELV has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $320.00 target price (down from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Sanford C. Bernstein reiterated an “outperform” rating and set a $431.00 price objective on shares of Elevance Health in a research report on Tuesday, January 6th. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Mizuho set a $413.00 price target on Elevance Health in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. increased their price objective on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $399.63.

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.