Panagora Asset Management Inc. Sells 26,931 Shares of Elevance Health, Inc. $ELV

Panagora Asset Management Inc. lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,913 shares of the company’s stock after selling 26,931 shares during the quarter. Panagora Asset Management Inc.’s holdings in Elevance Health were worth $50,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. Norges Bank bought a new stake in Elevance Health in the 4th quarter valued at $1,058,165,000. Bank of New York Mellon Corp increased its holdings in Elevance Health by 79.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after buying an additional 1,065,065 shares during the period. Artisan Partners Limited Partnership increased its holdings in Elevance Health by 24.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after buying an additional 901,626 shares during the period. First Eagle Investment Management LLC increased its holdings in Elevance Health by 25.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock valued at $1,292,029,000 after buying an additional 798,457 shares during the period. Finally, Brave Warrior Advisors LLC increased its holdings in Elevance Health by 65.3% in the 3rd quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company’s stock valued at $592,603,000 after buying an additional 724,349 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ELV. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Bank of America upped their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Robert W. Baird upped their target price on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein upped their target price on shares of Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Stock Down 0.7%

ELV opened at $401.19 on Tuesday. The firm’s 50-day simple moving average is $368.63 and its 200-day simple moving average is $345.42. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.98. The firm has a market cap of $87.12 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.29 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm earned $11.97 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared 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 is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is 29.26%.

Insider Transactions at Elevance Health

In related news, Director Robert L. 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 owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

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.