Elevance Health, Inc. (NYSE:ELV) Stock Holdings Boosted by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Elevance Health, Inc. (NYSE:ELV) by 5.0% during the third quarter, Holdings Channel reports. The fund owned 209,859 shares of the company’s stock after purchasing an additional 9,916 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Elevance Health were worth $109,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Iridian Asset Management LLC CT boosted its position in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares during the period. International Assets Investment Management LLC grew its stake in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Elevance Health by 185.4% in the third quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock worth $26,600,000 after purchasing an additional 33,231 shares during the period. Seizert Capital Partners LLC increased its stake in Elevance Health by 26.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock valued at $54,199,000 after buying an additional 21,708 shares during the period. Finally, abrdn plc increased its stake in shares of Elevance Health by 32.2% during the third quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after acquiring an additional 87,717 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.8 %

NYSE ELV opened at $397.48 on Thursday. The company has a market capitalization of $92.18 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $466.51 and its 200-day simple moving average is $510.83.

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

Elevance Health Announces Dividend

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

Analyst Ratings Changes

ELV has been the topic of a number of research reports. Truist Financial reissued a “buy” rating and issued a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. TD Cowen reduced their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Elevance Health 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.