Mediolanum International Funds Ltd Raises Position in Elevance Health, Inc. (NYSE:ELV)

Mediolanum International Funds Ltd lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 56.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,328 shares of the company’s stock after buying an additional 3,007 shares during the period. Mediolanum International Funds Ltd’s holdings in Elevance Health were worth $4,356,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wealthcare Advisory Partners LLC lifted its position in shares of Elevance Health by 21.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,459 shares of the company’s stock worth $757,000 after buying an additional 254 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Elevance Health by 8.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,344 shares of the company’s stock worth $5,882,000 after purchasing an additional 877 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at $32,000. Grimes & Company Inc. bought a new stake in shares of Elevance Health during the 1st quarter worth $216,000. Finally, Vicus Capital purchased a new position in shares of Elevance Health in the 1st quarter worth about $204,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $425.27 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The firm’s fifty day moving average is $515.15 and its 200 day moving average is $524.55. The firm has a market cap of $98.84 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the firm posted $8.99 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Cantor Fitzgerald lowered their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Barclays lowered their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Morgan Stanley lowered their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $551.07.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

About Elevance Health

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.