International Assets Investment Management LLC Makes New $29.29 Million Investment in Elevance Health, Inc. $ELV

International Assets Investment Management LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the first quarter, HoldingsChannel.com reports. The fund purchased 100,061 shares of the company’s stock, valued at approximately $29,293,000. Elevance Health makes up approximately 0.7% of International Assets Investment Management LLC’s portfolio, making the stock its 13th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Elevance Health during the fourth quarter worth $1,058,165,000. Wellington Management Group LLP lifted its position in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after acquiring an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the period. Invesco Ltd. boosted its stake in Elevance Health by 50.3% in the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after purchasing an additional 1,306,390 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Elevance Health by 79.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock worth $844,371,000 after purchasing an additional 1,065,065 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.9%

ELV traded down $3.85 on Friday, hitting $416.54. 779,522 shares of the company were exchanged, compared to its average volume of 1,495,521. The stock’s fifty day moving average is $397.16 and its 200-day moving average is $353.48. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $427.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $90.46 billion, a PE ratio of 17.72, a PEG ratio of 2.36 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same period last year, the company earned $11.97 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts predict that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s payout ratio is presently 29.26%.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group lifted their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Raymond James Financial set a $450.00 price objective on Elevance Health in a report on Tuesday, July 7th. Mizuho lifted their target price on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Truist Financial upped their price target on Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $425.95.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.