Polianta Ltd Makes New Investment in Elevance Health, Inc. $ELV

Polianta Ltd bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,500 shares of the company’s stock, valued at approximately $1,454,000.

A number of other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Elevance Health in the 2nd quarter valued at about $1,148,379,000. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in shares of Elevance Health during the second quarter worth $293,141,000. Vanguard Group Inc. boosted its stake in Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after purchasing an additional 704,790 shares during the period. Finally, Orbis Allan Gray Ltd raised its position in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $343.30 on Friday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The stock has a market capitalization of $76.29 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.52. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $334.05 and a two-hundred day simple moving average of $330.17.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the previous year, the firm posted $8.37 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s dividend payout ratio is 27.96%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ELV shares. Robert W. Baird raised their price target on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Truist Financial set a $400.00 price target on shares of Elevance Health in a research note on Tuesday, October 14th. Mizuho reduced their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their price objective on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Barclays lowered their target price on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.