KBC Group NV Decreases Stock Position in Elevance Health, Inc. $ELV

KBC Group NV reduced its position in Elevance Health, Inc. (NYSE:ELV) by 68.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 113,727 shares of the company’s stock after selling 251,625 shares during the period. KBC Group NV’s holdings in Elevance Health were worth $44,235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. CWM LLC lifted its stake in shares of Elevance Health by 210.1% during the 1st quarter. CWM LLC now owns 13,742 shares of the company’s stock valued at $5,977,000 after buying an additional 9,311 shares in the last quarter. Signaturefd LLC raised its holdings in Elevance Health by 24.8% during the 1st quarter. Signaturefd LLC now owns 2,926 shares of the company’s stock valued at $1,273,000 after acquiring an additional 581 shares during the period. Sigma Planning Corp lifted its position in shares of Elevance Health by 8.6% during the first quarter. Sigma Planning Corp now owns 2,194 shares of the company’s stock worth $955,000 after acquiring an additional 174 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Elevance Health by 1.4% in the first quarter. SBI Securities Co. Ltd. now owns 2,530 shares of the company’s stock worth $1,100,000 after acquiring an additional 34 shares during the period. Finally, Dakota Wealth Management purchased a new position in shares of Elevance Health in the first quarter valued at $257,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ELV shares. UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Guggenheim increased their price target on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Mizuho reduced their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. TD Cowen upped their target price on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group began coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Hold” and a consensus target price of $397.33.

Elevance Health Trading Up 4.0%

ELV stock opened at $327.89 on Thursday. The company’s 50 day moving average price is $329.09 and its two-hundred day moving average price is $342.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a market capitalization of $72.87 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The firm had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $8.37 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.