ARGA Investment Management LP Has $60.03 Million Position in Elevance Health, Inc. $ELV

ARGA Investment Management LP lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 26.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 205,063 shares of the company’s stock after selling 72,692 shares during the period. Elevance Health accounts for about 2.0% of ARGA Investment Management LP’s portfolio, making the stock its 11th largest position. ARGA Investment Management LP’s holdings in Elevance Health were worth $60,032,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Elevance Health in the fourth quarter worth about $1,058,165,000. Wellington Management Group LLP grew its stake in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Elevance Health by 50.3% in the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after purchasing an additional 1,306,390 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Elevance Health by 79.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock worth $844,371,000 after purchasing an additional 1,065,065 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV stock opened at $416.54 on Friday. The firm’s 50 day moving average price is $397.16 and its two-hundred day moving average price is $353.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $427.64. The stock has a market cap of $90.46 billion, a PE ratio of 17.72, a PEG ratio of 2.38 and a beta of 0.67.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. The company 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 previous year, the company posted $11.97 EPS. 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 EPS for the current year.

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

ELV has been the topic of several research reports. Barclays upped their price objective on Elevance Health from $408.00 to $480.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. JPMorgan Chase & Co. upped their price target on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, 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 report on Monday, April 20th. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $425.95.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated 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 of the company’s stock, 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 can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.