UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.12 Billion Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

by · The Cerbat Gem

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,152,613 shares of the company’s stock after buying an additional 31,740 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Elevance Health were worth $1,119,359,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Elevance Health by 3.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 265,927 shares of the company’s stock worth $138,282,000 after buying an additional 8,691 shares during the period. 140 Summer Partners LP boosted its stake in shares of Elevance Health by 54.3% in the 3rd quarter. 140 Summer Partners LP now owns 133,059 shares of the company’s stock valued at $69,191,000 after purchasing an additional 46,800 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Elevance Health by 49.2% during the third quarter. Bridgewater Associates LP now owns 62,049 shares of the company’s stock worth $32,265,000 after buying an additional 20,463 shares during the period. Cynosure Group LLC raised its stake in Elevance Health by 6.8% during the third quarter. Cynosure Group LLC now owns 767 shares of the company’s stock worth $399,000 after buying an additional 49 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in Elevance Health by 6.3% during the third quarter. Townsquare Capital LLC now owns 8,727 shares of the company’s stock valued at $4,538,000 after acquiring an additional 517 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. UBS Group cut their target price 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. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. TD Cowen decreased their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Get Our Latest Analysis on ELV

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Up 0.2 %

ELV stock opened at $402.80 on Thursday. The firm has a market capitalization of $93.42 billion, a PE ratio of 14.68, a P/E/G ratio of 1.21 and a beta of 0.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26. The stock’s 50 day moving average is $452.22 and its 200-day moving average is $506.22.

Elevance Health (NYSE:ELV – Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share 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 the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $8.99 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Elevance Health Company Profile

(Free Report)

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.

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