Mediolanum International Funds Ltd Decreases Holdings in Elevance Health, Inc. $ELV

Mediolanum International Funds Ltd lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 11,107 shares of the company’s stock after selling 1,856 shares during the period. Mediolanum International Funds Ltd’s holdings in Elevance Health were worth $3,163,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the fourth quarter valued at $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health during the fourth quarter worth about $32,000. ORG Partners LLC lifted its holdings in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Elevance Health in the 4th quarter valued at about $38,000. Finally, Main Street Group LTD acquired a new stake in shares of Elevance Health in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

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

Elevance Health Price Performance

ELV stock opened at $381.82 on Tuesday. The stock’s 50 day moving average price is $399.56 and its 200 day moving average price is $355.63. The firm has a market cap of $82.81 billion, a P/E ratio of 16.97, a PEG ratio of 2.10 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $8.84 EPS. On average, sell-side analysts expect that Elevance Health, Inc. will post 27.08 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health’s payout ratio is 30.58%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ELV. Bank of America boosted their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. TD Cowen increased their target price on shares of Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group reduced their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. UBS Group upped their price target on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Finally, Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $440.90.

About Elevance Health

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.