Royal London Asset Management Ltd. Decreases Holdings in Elevance Health, Inc. $ELV

Royal London Asset Management Ltd. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 231,694 shares of the company’s stock after selling 3,486 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Elevance Health were worth $89,603,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ELV. Toth Financial Advisory Corp grew its holdings in Elevance Health by 23.7% during the 2nd quarter. Toth Financial Advisory Corp now owns 5,984 shares of the company’s stock valued at $2,314,000 after buying an additional 1,147 shares during the last quarter. Mufg Securities Americas Inc. lifted its holdings in Elevance Health by 7.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 6,541 shares of the company’s stock valued at $2,530,000 after purchasing an additional 434 shares in the last quarter. Nissay Asset Management Corp Japan boosted its stake in shares of Elevance Health by 2.3% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 29,485 shares of the company’s stock worth $11,403,000 after purchasing an additional 660 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Elevance Health by 2.3% in the second quarter. Hsbc Holdings PLC now owns 522,886 shares of the company’s stock valued at $202,531,000 after buying an additional 11,819 shares during the last quarter. Finally, Field & Main Bank raised its position in shares of Elevance Health by 1.3% in the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after buying an additional 25 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.0%

Shares of ELV opened at $395.28 on Friday. The firm has a market cap of $85.72 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. The company’s fifty day moving average is $395.36 and its two-hundred day moving average is $362.06. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $8.84 EPS. Analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

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

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ELV shares. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Royal Bank Of Canada decreased their price objective on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Cantor Fitzgerald raised their price target on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

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.