M&G Plc Has $219.68 Million Position in Elevance Health, Inc. (NYSE:ELV)

M&G Plc boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 405,314 shares of the company’s stock after buying an additional 13,428 shares during the period. Elevance Health makes up about 1.3% of M&G Plc’s investment portfolio, making the stock its 12th biggest position. M&G Plc owned approximately 0.17% of Elevance Health worth $219,680,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Sanders Capital LLC raised its holdings in Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after purchasing an additional 196,010 shares during the period. Capital International Investors grew its holdings in shares of Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after buying an additional 123,802 shares during the period. Norges Bank acquired a new position in shares of Elevance Health in the 4th quarter valued at $1,347,434,000. The Manufacturers Life Insurance Company grew its stake in Elevance Health by 6.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,863,601 shares of the company’s stock valued at $878,800,000 after acquiring an additional 110,462 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Elevance Health by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,860,723 shares of the company’s stock valued at $877,412,000 after acquiring an additional 11,093 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELV has been the subject of several recent analyst reports. Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Tuesday, July 23rd. Morgan Stanley initiated coverage on Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. Finally, Stephens restated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a report on Tuesday, June 11th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Up 1.1 %

ELV stock traded up $5.80 during mid-day trading on Tuesday, reaching $531.65. The company had a trading volume of 447,251 shares, compared to its average volume of 1,047,815. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a 50 day simple moving average of $529.87 and a two-hundred day simple moving average of $520.57. The company has a market capitalization of $123.57 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $555.35.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $9.04 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. Elevance Health’s dividend payout ratio is 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 over the last ninety days. 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.