Banco Santander S.A. Boosts Holdings in Elevance Health Inc. (NYSE:ELV)

Banco Santander S.A. raised its holdings in shares of Elevance Health Inc. (NYSE:ELV – Get Rating) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,970 shares of the company’s stock after acquiring an additional 303 shares during the quarter. Banco Santander S.A.’s holdings in Elevance Health were worth $6,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ELV. Checchi Capital Advisers LLC grew its holdings in shares of Elevance Health by 5.4% during the first quarter. Checchi Capital Advisers LLC now owns 2,588 shares of the company’s stock worth $1,271,000 after buying an additional 133 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Elevance Health by 9.3% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 126,565 shares of the company’s stock worth $62,171,000 after buying an additional 10,776 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Elevance Health by 4.3% during the first quarter. M&T Bank Corp now owns 88,360 shares of the company’s stock worth $43,403,000 after buying an additional 3,644 shares in the last quarter. Tredje AP fonden grew its holdings in shares of Elevance Health by 25.1% during the first quarter. Tredje AP fonden now owns 24,911 shares of the company’s stock worth $12,237,000 after buying an additional 5,000 shares in the last quarter. Finally, Regal Investment Advisors LLC purchased a new stake in shares of Elevance Health during the first quarter worth about $236,000. 84.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ELV shares. BMO Capital Markets lifted their price target on shares of Elevance Health from $540.00 to $625.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. Mizuho raised their target price on shares of Elevance Health from $510.00 to $545.00 in a research report on Wednesday, May 4th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $586.00 to $580.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. Cowen raised their target price on shares of Elevance Health from $472.00 to $642.00 in a research report on Thursday, April 21st. Finally, Cowen decreased their target price on shares of Elevance Health to $577.00 in a research report on Friday, July 22nd. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $558.30.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $488.60, for a total value of $3,091,860.80. Following the completion of the sale, the executive vice president now directly owns 14,529 shares of the company’s stock, valued at approximately $7,098,869.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 420 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $497.14, for a total transaction of $208,798.80. Following the sale, the director now owns 9,491 shares in the company, valued at approximately $4,718,355.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $488.60, for a total value of $3,091,860.80. Following the sale, the executive vice president now owns 14,529 shares in the company, valued at approximately $7,098,869.40. The disclosure for this sale can be found here. Insiders sold 7,738 shares of company stock valued at $3,764,851 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Elevance Health Trading Up 0.0 %

ELV opened at $475.13 on Friday. The firm has a market capitalization of $114.03 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.36 and a beta of 0.90. The firm’s 50 day moving average is $478.57 and its 200-day moving average is $477.93. Elevance Health Inc. has a 52-week low of $355.43 and a 52-week high of $533.68. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $8.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.74 by $0.30. Elevance Health had a net margin of 4.09% and a return on equity of 19.20%. The business had revenue of $38.48 billion during the quarter, compared to analyst estimates of $38.05 billion. During the same quarter in the previous year, the firm earned $7.03 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. Analysts expect that Elevance Health Inc. will post 28.79 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $1.28 dividend. This represents a $5.12 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, September 8th. Elevance Health’s payout ratio is currently 20.53%.

About Elevance Health

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Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.