Banco Santander S.A. Has $15.89 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Banco Santander S.A. raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,522 shares of the company’s stock after purchasing an additional 738 shares during the period. Banco Santander S.A.’s holdings in Elevance Health were worth $15,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock valued at $3,917,004,000 after purchasing an additional 464,137 shares during the last quarter. Sanders Capital LLC grew its holdings in Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock valued at $1,728,722,000 after purchasing an additional 76,896 shares during the last quarter. Capital International Investors grew its holdings in Elevance Health by 0.9% during the fourth quarter. Capital International Investors now owns 3,880,630 shares of the company’s stock valued at $1,431,559,000 after purchasing an additional 35,576 shares during the last quarter. Northern Trust Corp grew its holdings in Elevance Health by 16.5% during the fourth quarter. Northern Trust Corp now owns 2,449,028 shares of the company’s stock valued at $903,446,000 after purchasing an additional 346,557 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Elevance Health by 9.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company’s stock valued at $867,713,000 after purchasing an additional 199,550 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 3.2%

Shares of ELV opened at $274.10 on Friday. The company has a market capitalization of $61.72 billion, a P/E ratio of 11.66, a PEG ratio of 1.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a one year low of $273.84 and a one year high of $567.26. The business’s 50 day simple moving average is $349.86 and its 200-day simple moving average is $389.05.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.12 earnings per share. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. Elevance Health’s dividend payout ratio (DPR) is currently 29.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays cut their price target on Elevance Health from $434.00 to $358.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Mizuho upped their price target on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Elevance Health from $478.00 to $400.00 and set an “overweight” rating for the company in a report on Tuesday, July 15th. Finally, Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $418.19.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.