Groupama Asset Managment Buys 6,419 Shares of Elevance Health, Inc. (NYSE:ELV)

Groupama Asset Managment lifted its position in Elevance Health, Inc. (NYSE:ELV) by 91.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,440 shares of the company’s stock after buying an additional 6,419 shares during the quarter. Groupama Asset Managment’s holdings in Elevance Health were worth $70,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. PSI Advisors LLC bought a new stake in Elevance Health in the third quarter valued at approximately $27,000. Strategic Financial Concepts LLC bought a new position in Elevance Health during the second quarter worth $30,000. Eastern Bank acquired a new position in shares of Elevance Health in the third quarter valued at $31,000. Dunhill Financial LLC raised its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the 3rd quarter worth about $44,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

NYSE ELV opened at $395.60 on Tuesday. The firm’s 50 day simple moving average is $431.73 and its 200 day simple moving average is $497.93. The firm has a market capitalization of $91.75 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.14 and a beta of 0.83. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 1 year low of $379.29 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last issued 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 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the business posted $8.99 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % 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. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ELV shares. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company dropped their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Barclays decreased their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Morgan Stanley dropped their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

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.