First Eagle Investment Management LLC Boosts Stock Holdings in Elevance Health, Inc. $ELV

First Eagle Investment Management LLC raised its stake in Elevance Health, Inc. (NYSE:ELV) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,188,196 shares of the company’s stock after acquiring an additional 55,905 shares during the period. Elevance Health makes up 1.7% of First Eagle Investment Management LLC’s portfolio, making the stock its 15th largest holding. First Eagle Investment Management LLC’s holdings in Elevance Health were worth $1,619,701,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ELV. California State Teachers Retirement System boosted its holdings in shares of Elevance Health by 37,390.0% during the 2nd quarter. California State Teachers Retirement System now owns 124,019,670 shares of the company’s stock valued at $47,962,127,000 after purchasing an additional 123,688,863 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Elevance Health in the second quarter worth about $7,344,424,000. Wellington Management Group LLP boosted its stake in Elevance Health by 12.0% during the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after buying an additional 984,976 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after acquiring an additional 1,607,274 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after acquiring an additional 455,946 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and increased their target price for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Mizuho increased their price objective on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Leerink Partners lifted their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Finally, Guggenheim upped their target price on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Insider Activity at Elevance Health

In related news, Director Robert Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated 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 directly owned 10,734 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $407.05 on Monday. The stock’s fifty day moving average is $396.72 and its 200 day moving average is $364.70. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The firm has a market capitalization of $88.28 billion, a PE ratio of 18.09, a PEG ratio of 2.12 and a beta of 0.69. 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 (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same period in the previous year, the firm earned $8.84 earnings per share. Elevance Health’s quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s payout ratio is currently 30.58%.

Elevance Health 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.