Holocene Advisors LP Has $165.35 Million Position in Elevance Health, Inc. (NYSE:ELV)

Holocene Advisors LP increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,979 shares of the company’s stock after purchasing an additional 40,778 shares during the quarter. Holocene Advisors LP owned approximately 0.14% of Elevance Health worth $165,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sanders Capital LLC increased its holdings in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after buying an additional 44,805 shares in the last quarter. Ameriprise Financial Inc. grew its position in Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after acquiring an additional 190,118 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Legal & General Group Plc raised its position in Elevance Health by 2.9% in the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after purchasing an additional 64,376 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Elevance Health by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,152,613 shares of the company’s stock valued at $1,119,359,000 after purchasing an additional 31,740 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $410.50 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $446.87 and a two-hundred day simple moving average of $504.13. Elevance Health, Inc. has a 12 month low of $391.02 and a 12 month high of $567.26. The firm has a market capitalization of $95.20 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion during 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 company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.99 EPS. Analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.59%. Elevance Health’s payout ratio is 23.77%.

Analysts Set New Price Targets

A number of research firms have weighed in on ELV. Barclays reduced their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Wells Fargo & Company cut their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Truist Financial reissued a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Finally, UBS Group cut their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health 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.