GAM Holding AG Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

GAM Holding AG grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,741 shares of the company’s stock after buying an additional 121 shares during the period. GAM Holding AG’s holdings in Elevance Health were worth $8,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Elevance Health by 34.0% in the 2nd 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 during the period. M&G Plc purchased a new stake in shares of Elevance Health in the first quarter worth approximately $203,389,000. Maj Invest Holding A S bought a new stake in shares of Elevance Health during the second quarter worth $173,753,000. First Eagle Investment Management LLC lifted its holdings in Elevance Health by 15.5% during the 2nd 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 in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after acquiring an additional 190,118 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Wells Fargo & Company reiterated a “buy” rating on shares of Elevance Health in a report on Friday. Bank of America restated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. UBS Group reduced their price objective on shares of 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, TD Cowen dropped their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday. 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 issued a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $557.20.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’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 sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’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 directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Down 0.6 %

Shares of ELV stock opened at $419.84 on Wednesday. The stock’s 50-day simple moving average is $522.44 and its 200-day simple moving average is $526.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market capitalization of $97.58 billion, a PE ratio of 15.87, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $8.99 earnings per share. Equities analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.