Assenagon Asset Management S.A. Trims Holdings in Elevance Health, Inc. $ELV

Assenagon Asset Management S.A. cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 78.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 114,779 shares of the company’s stock after selling 414,729 shares during the period. Assenagon Asset Management S.A.’s holdings in Elevance Health were worth $33,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new position in Elevance Health in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $32,000. ORG Partners LLC grew its position in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Elevance Health during the 4th quarter worth about $38,000. Finally, Dorato Capital Management purchased a new stake in shares of Elevance Health during the 4th quarter valued at $41,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELV. Truist Financial increased their price target on Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 1st. The Goldman Sachs Group increased their price target on Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Jefferies Financial Group lowered their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Sanford C. Bernstein lifted their price objective on Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $416.11.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $394.86 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98. The company’s fifty day moving average is $383.03 and its two-hundred day moving average is $349.01. The company has a market cap of $85.75 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same period in the prior year, the firm earned $11.97 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities analysts expect that Elevance Health, Inc. will post 26.92 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s payout ratio is currently 29.26%.

Elevance Health Profile

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.