Mediolanum International Funds Ltd Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Mediolanum International Funds Ltd lifted its position in Elevance Health, Inc. (NYSE:ELV) by 56.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,328 shares of the company’s stock after purchasing an additional 3,007 shares during the period. Mediolanum International Funds Ltd’s holdings in Elevance Health were worth $4,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC increased its position in shares of Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. boosted its stake in shares of Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares during the last quarter. American Trust grew its position in shares of Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares during the period. Fiduciary Alliance LLC grew its position in shares of Elevance Health by 3.6% during the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after acquiring an additional 21 shares during the period. Finally, Ascent Wealth Partners LLC increased its stake in shares of Elevance Health by 1.8% in the 1st quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock worth $619,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.5 %

ELV stock opened at $425.27 on Friday. The company has a market capitalization of $98.84 billion, a PE ratio of 16.07, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The firm’s 50-day moving average is $515.15 and its 200 day moving average is $524.55.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the firm posted $8.99 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, research analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America restated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.