PFM Health Sciences LP Has $29.35 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

PFM Health Sciences LP lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,441 shares of the company’s stock after buying an additional 1,191 shares during the period. Elevance Health comprises approximately 1.7% of PFM Health Sciences LP’s holdings, making the stock its 22nd largest holding. PFM Health Sciences LP’s holdings in Elevance Health were worth $29,349,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Iridian Asset Management LLC CT grew its position in Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after acquiring an additional 3,786 shares during the last quarter. International Assets Investment Management LLC grew its position in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Elevance Health by 5.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock worth $109,127,000 after acquiring an additional 9,916 shares during the last quarter. Seizert Capital Partners LLC grew its position in Elevance Health by 26.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock worth $54,199,000 after acquiring an additional 21,708 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its position in Elevance Health by 185.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock worth $26,600,000 after acquiring an additional 33,231 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 1.1 %

Shares of NYSE:ELV opened at $407.33 on Friday. The company has a fifty day moving average of $446.87 and a 200-day moving average of $504.59. The company has a market capitalization of $94.47 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 52-week low of $391.02 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $8.99 earnings per share. On average, equities analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.60%. Elevance Health’s dividend payout ratio is 23.77%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ELV shares. Truist Financial restated a “buy” rating and set a $520.00 price target (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. UBS Group decreased their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Company Profile

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.