Groupama Asset Management Increases Stake in Elevance Health

Groupama Asset Management has increased its investment in Elevance Health, Inc. (NYSE: ELV) by 12.1% during the second quarter of 2023. This information was disclosed in the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC). Following this acquisition, Groupama holds 8,797 shares of Elevance Health, valued at approximately $3,356,000.

Several other institutional investors have also adjusted their positions in Elevance Health recently. Notably, Arkadios Wealth Advisors raised its stake by a remarkable 74.5% in the first quarter, now owning 1,932 shares worth $840,000. Similarly, Mesirow Financial Investment Management Inc. increased its holdings by 14.9%, bringing its total to 765 shares valued at $333,000. Other significant changes include Sound View Wealth Advisors Group LLC, which grew its stake by 24.3%, and Wealthquest Corp, which acquired a new stake valued at $411,000.

As it stands, 89.24% of Elevance Health’s stock is owned by institutional investors and hedge funds, highlighting the company’s strong appeal among large financial entities.

Current Stock Performance

On Friday, shares of Elevance Health opened at $332.15. The company has demonstrated stable performance, with a 50-day simple moving average of $333.18 and a 200-day simple moving average of $335.91. Elevance Health maintains a debt-to-equity ratio of 0.71, alongside a quick and current ratio both at 1.56. Over the past year, the stock has fluctuated between a low of $273.71 and a high of $458.75. The company’s market capitalization is currently $73.82 billion, with a price-to-earnings (P/E) ratio of 13.58 and a beta of 0.60.

Dividend Announcement and Analyst Ratings

Elevance Health has also announced a quarterly dividend of $1.71 per share, set to be paid on December 19, 2023. Shareholders of record as of December 5, 2023 will receive this payment, marking an annualized dividend of $6.84 and a yield of 2.1%. The company currently has a payout ratio of 27.96%, indicating a sustainable dividend policy.

Recent reports from equities analysts provide a mixed view on Elevance Health’s stock. Weiss Ratings has reiterated a “sell (d+)” rating, while JPMorgan Chase & Co. raised its price target from $384.00 to $394.00, maintaining an “overweight” rating. Additionally, Sanford C. Bernstein lowered its price objective from $445.00 to $420.00 with an “outperform” rating. Zacks Research upgraded the stock from a “strong sell” to a “hold” rating, and Cowen reaffirmed a “buy” rating. Currently, twelve research analysts have rated Elevance Health as a buy, ten have issued a hold rating, and one has given a sell rating. The consensus rating remains a “hold” with a target price averaging $398.44.

Elevance Health, Inc. operates as a health benefits company in the United States, providing a variety of health plans and services through its subsidiaries. Its segments include Health Benefits, CarelonRx, Carelon Services, and Corporate & Other, catering to the diverse needs of its program members.