Candriam S.C.A. Has $10.79 Million Stock Holdings in Elevance Health, Inc. $ELV

Candriam S.C.A. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 15.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 36,861 shares of the company’s stock after selling 6,979 shares during the period. Candriam S.C.A.’s holdings in Elevance Health were worth $10,791,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ELV. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $5,941,000. Bright Rock Capital Management LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at $7,362,000. Prana Capital Management LP grew its holdings in shares of Elevance Health by 798.9% during the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock worth $16,684,000 after purchasing an additional 45,889 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Elevance Health in the third quarter worth $10,047,000. Finally, Loews Corp increased its position in shares of Elevance Health by 107.5% in the third quarter. Loews Corp now owns 110,000 shares of the company’s stock worth $35,543,000 after purchasing an additional 57,000 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.1%

Shares of NYSE ELV opened at $416.54 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a market cap of $90.46 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.36 and a beta of 0.67. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $427.64. The stock has a 50-day moving average price of $397.16 and a two-hundred day moving average price of $353.55.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.86 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were paid a $1.72 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is presently 29.26%.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. Guggenheim upped their price objective on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Mizuho boosted their target price on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Finally, The Goldman Sachs Group increased their price target on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $425.95.

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.