Impax Asset Management Group plc Has $13.16 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Impax Asset Management Group plc grew its stake in Elevance Health, Inc. (NYSE:ELV) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,305 shares of the company’s stock after purchasing an additional 1,435 shares during the quarter. Impax Asset Management Group plc’s holdings in Elevance Health were worth $13,159,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. OneDigital Investment Advisors LLC lifted its holdings in shares of Elevance Health by 15.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,028 shares of the company’s stock valued at $3,655,000 after purchasing an additional 941 shares in the last quarter. Lifeworks Advisors LLC lifted its holdings in Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after acquiring an additional 25 shares during the period. Intelligence Driven Advisers LLC lifted its holdings in Elevance Health by 6.4% during the third quarter. Intelligence Driven Advisers LLC now owns 1,179 shares of the company’s stock worth $613,000 after acquiring an additional 71 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Elevance Health by 8.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,105 shares of the company’s stock worth $3,175,000 after acquiring an additional 471 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in Elevance Health by 9.0% during the third quarter. Metis Global Partners LLC now owns 12,064 shares of the company’s stock worth $6,273,000 after acquiring an additional 992 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. Barclays dropped their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada dropped their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. UBS Group dropped their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Mizuho dropped their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given 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 an average price target of $539.20.

Elevance Health Price Performance

Shares of NYSE ELV opened at $400.78 on Friday. The firm has a market capitalization of $92.95 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $478.13 and its two-hundred day simple moving average is $514.55. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 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 the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $8.99 earnings per share. As a group, equities analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal 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 1.63%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

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.