Eminence Capital LP Has $93.80 Million Stake in Elevance Health, Inc. $ELV

Eminence Capital LP lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 56.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,157 shares of the company’s stock after selling 317,514 shares during the period. Eminence Capital LP owned about 0.11% of Elevance Health worth $93,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aspen Investment Management Inc boosted its position in shares of Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after acquiring an additional 27 shares in the last quarter. Regatta Capital Group LLC lifted its stake in Elevance Health by 3.0% during the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after purchasing an additional 30 shares during the period. Smartleaf Asset Management LLC lifted its stake in Elevance Health by 1.5% during the first quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after purchasing an additional 32 shares during the period. Accurate Wealth Management LLC boosted its holdings in Elevance Health by 4.9% during the second quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after purchasing an additional 33 shares in the last quarter. Finally, Capital Analysts LLC grew its stake in shares of Elevance Health by 6.5% in the 1st quarter. Capital Analysts LLC now owns 577 shares of the company’s stock valued at $251,000 after purchasing an additional 35 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $358.95 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average is $335.31 and its 200-day moving average is $332.35. The firm has a market capitalization of $79.77 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.67 and a beta of 0.52.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.37 EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Analysts Set New Price Targets

Several research firms recently commented on ELV. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird increased their price objective on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America boosted their target price on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Barclays dropped their target price on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Finally, TD Cowen upped their price objective on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.83.

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.