Panagora Asset Management Inc. Has $50.45 Million Stock Holdings in Elevance Health, Inc. $ELV

Panagora Asset Management Inc. cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,913 shares of the company’s stock after selling 26,931 shares during the quarter. Panagora Asset Management Inc. owned about 0.07% of Elevance Health worth $50,449,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Elevance Health by 0.6% in the third quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock valued at $7,431,322,000 after acquiring an additional 141,747 shares during the last quarter. Wellington Management Group LLP lifted its stake in Elevance Health by 4.8% in the third quarter. Wellington Management Group LLP now owns 6,621,297 shares of the company’s stock valued at $2,139,473,000 after acquiring an additional 303,099 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Elevance Health by 24.5% in the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after acquiring an additional 901,626 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of 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 worth $1,410,219,000 after buying an additional 24,271 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Elevance Health in the fourth quarter worth $1,058,165,000. 89.24% of the stock is currently 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 business’s stock in a transaction on Thursday, June 11th. The shares were 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 approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Barclays boosted their price objective on shares of Elevance Health from $408.00 to $480.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Truist Financial boosted their price objective on shares of Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, Robert W. Baird boosted their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $416.11.

Elevance Health Trading Down 0.7%

Shares of ELV stock opened at $401.19 on Tuesday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $426.98. The firm’s fifty day simple moving average is $368.63 and its 200 day simple moving average is $345.42. The firm has a market capitalization of $87.12 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same quarter in the previous year, the firm posted $11.97 earnings per share. Elevance Health’s revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, sell-side analysts predict that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s payout ratio is 29.26%.

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.