Elevance Health, Inc. $ELV Shares Sold by AIA Group Ltd

AIA Group Ltd lowered its position in Elevance Health, Inc. (NYSE:ELV) by 30.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 49,186 shares of the company’s stock after selling 21,370 shares during the period. AIA Group Ltd’s holdings in Elevance Health were worth $14,399,000 as of its most recent filing with the Securities and Exchange Commission.

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

Elevance Health Stock Performance

Shares of ELV stock opened at $372.68 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $399.55 and a 200-day simple moving average of $355.35. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.67. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the business earned $8.84 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts forecast that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Elevance Health News Summary

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’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 transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Bank of America boosted their target price on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research report on Thursday. Jefferies Financial Group dropped their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. The Goldman Sachs Group restated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research report on Thursday. Finally, Morgan Stanley raised their target price on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Company 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.