Banco Santander S.A. lifted its position in Elevance Health Inc. (NYSE:ELV – Get Rating) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,970 shares of the company’s stock after purchasing an additional 303 shares during the quarter. Banco Santander S.A.’s holdings in Elevance Health were worth $6,371,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Arrow Financial Corp acquired a new position in shares of Elevance Health in the first quarter valued at $25,000. Clean Yield Group acquired a new position in Elevance Health during the first quarter worth $34,000. Motco raised its stake in Elevance Health by 118.8% during the first quarter. Motco now owns 70 shares of the company’s stock worth $34,000 after acquiring an additional 38 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Elevance Health by 63.8% in the first quarter. JFS Wealth Advisors LLC now owns 77 shares of the company’s stock valued at $38,000 after buying an additional 30 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its stake in shares of Elevance Health by 100.0% in the first quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 80 shares of the company’s stock valued at $39,000 after buying an additional 40 shares in the last quarter. 84.28% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Elevance Health news, Director Ramiro G. Peru sold 990 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $468.88, for a total value of $464,191.20. Following the sale, the director now owns 9,405 shares in the company, valued at approximately $4,409,816.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Elevance Health news, Director Ramiro G. Peru sold 990 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $468.88, for a total value of $464,191.20. Following the sale, the director now owns 9,405 shares in the company, valued at approximately $4,409,816.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $488.60, for a total value of $3,091,860.80. Following the completion of the sale, the executive vice president now owns 14,529 shares in the company, valued at approximately $7,098,869.40. The disclosure for this sale can be found here. Insiders sold a total of 7,738 shares of company stock valued at $3,764,851 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.
Elevance Health Price Performance
Elevance Health (NYSE:ELV – Get Rating) last issued its earnings results on Wednesday, July 20th. The company reported $8.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.74 by $0.30. Elevance Health had a return on equity of 19.20% and a net margin of 4.09%. The business had revenue of $38.48 billion during the quarter, compared to analysts’ expectations of $38.05 billion. During the same quarter in the prior year, the firm earned $7.03 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts anticipate that Elevance Health Inc. will post 28.79 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a $1.28 dividend. The ex-dividend date is Thursday, September 8th. This represents a $5.12 dividend on an annualized basis and a yield of 1.08%. Elevance Health’s payout ratio is presently 20.53%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ELV. Mizuho raised their price target on Elevance Health from $510.00 to $545.00 in a report on Wednesday, May 4th. Royal Bank of Canada dropped their price target on Elevance Health from $544.00 to $505.00 in a research report on Thursday, July 21st. Loop Capital assumed coverage on Elevance Health in a research report on Thursday, June 16th. They issued a “buy” rating and a $550.00 target price on the stock. Morgan Stanley dropped their target price on Elevance Health from $533.00 to $485.00 and set an “equal weight” rating on the stock in a research report on Monday, July 25th. Finally, Credit Suisse Group boosted their price target on Elevance Health from $518.00 to $584.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $558.30.
Elevance Health Profile
Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.
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