Elevance Health, Inc. $ELV Shares Purchased by Marathon Asset Management Ltd

Marathon Asset Management Ltd raised its stake in Elevance Health, Inc. (NYSE:ELV) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 267,395 shares of the company’s stock after acquiring an additional 3,859 shares during the quarter. Elevance Health accounts for about 3.2% of Marathon Asset Management Ltd’s portfolio, making the stock its 7th largest position. Marathon Asset Management Ltd’s holdings in Elevance Health were worth $86,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Verdence Capital Advisors LLC grew its holdings in Elevance Health by 3.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after purchasing an additional 790 shares in the last quarter. OLD National Bancorp IN boosted its position in Elevance Health by 44.8% in the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock valued at $2,438,000 after buying an additional 1,939 shares during the last quarter. Canoe Financial LP boosted its position in Elevance Health by 18.1% in the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after buying an additional 59,743 shares during the last quarter. Lombard Odier Asset Management Switzerland SA grew its stake in shares of Elevance Health by 14.3% during the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock valued at $5,508,000 after acquiring an additional 1,768 shares in the last quarter. Finally, World Investment Advisors increased its position in shares of Elevance Health by 17.0% during the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after acquiring an additional 3,988 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $349.84 on Monday. The stock has a market capitalization of $77.75 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.52. The business’s fifty day moving average price is $334.07 and its 200 day moving average price is $329.16. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the previous year, the firm earned $8.37 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $320.00 price objective (down previously from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Morgan Stanley decreased their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Twelve equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $396.21.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.