Royal London Asset Management Ltd. Cuts Position in Elevance Health, Inc. $ELV

Royal London Asset Management Ltd. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,694 shares of the company’s stock after selling 3,486 shares during the period. Royal London Asset Management Ltd. owned approximately 0.11% of Elevance Health worth $89,603,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Elevance Health during the second quarter worth about $7,344,424,000. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after acquiring an additional 984,976 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Elevance Health by 27.5% during 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 buying an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after acquiring an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Elevance Health by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after acquiring an additional 24,271 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Elevance Health Stock Down 1.0%

Elevance Health stock opened at $395.28 on Friday. The stock has a 50 day moving average of $395.36 and a two-hundred day moving average of $362.06. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The stock has a market capitalization of $85.72 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.28 and a beta of 0.68. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $8.84 earnings per share. As a group, research analysts expect that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is 30.58%.

Analysts Set New Price Targets

A number of analysts have recently commented on ELV shares. Leerink Partners lifted their target price on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Mizuho upped 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. JPMorgan Chase & Co. lifted their price target on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Barclays reduced their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Finally, Bank of America raised their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $440.90.

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.