Elevance Health, Inc. (NYSE:ELV) Shares Purchased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,859 shares of the company’s stock after buying an additional 9,916 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.09% of Elevance Health worth $109,127,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ELV. Ameriprise Financial Inc. boosted its stake in shares of Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after buying an additional 190,118 shares during the period. Legal & General Group Plc raised its holdings in shares of Elevance Health by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after purchasing an additional 64,376 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Elevance Health by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,867,551 shares of the company’s stock valued at $1,011,888,000 after buying an additional 23,872 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. Barclays decreased their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. UBS Group cut their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Trading Up 0.8 %

NYSE ELV opened at $397.48 on Thursday. Elevance Health, Inc. has a one year low of $391.02 and a one year high of $567.26. The company’s 50 day moving average price is $466.51 and its 200 day moving average price is $510.83. The firm has a market capitalization of $92.18 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $8.99 earnings per share. On average, sell-side analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.64%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.