Elevance Health Inc.

(New York Stock Exchange)
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Bullish +55

Assenagon Asset Management S.A. Trims Holdings in Elevance Health, Inc ...

AI-generated analysis

πŸ“‰ Assenagon Asset Management S.A. cut its Elevance Health holdings by 78.3% in Q1, selling 414,729 shares to retain a $33.6 million position.

πŸ“ˆ Multiple other institutions including Kemnay Advisory Services Inc., J.Safra Asset Management Corp, and ORG Partners LLC initiated or increased positions in the fourth quarter.

πŸ’° Elevance Health reported Q1 EPS of $12.58, beating analyst estimates of $10.74 by $1.84.

πŸ“Š Revenue reached $49.49 billion for the quarter, exceeding expectations of $48.21 billion and growing 1.5% year-over-year.

πŸ’΅ The company declared a quarterly dividend of $1.72 per share with an annualized yield of 1.7% paid on June 25th.

πŸ‘” Director Robert L. Dixon, Jr. sold 151 shares for $60,667 on June 11th, reducing his stake by 1.39% while retaining over 10,000 shares.

πŸ“‰ The stock trades at a P/E ratio of 16.80 with a market capitalization of $85.75 billion.

πŸ₯ CEO Gail Boudreaux leads the company's strategic focus on integrated health care and benefit delivery following its rebrand from Anthem in 2022.

Bullish Signals
  • Elevance Health beat quarterly earnings estimates significantly, reporting $12.58 EPS versus a consensus of $10.74.
  • Revenue of $49.49 billion exceeded analyst expectations of $48.21 billion, indicating strong demand for health insurance products.
  • The company maintains a healthy balance sheet with a quick ratio and current ratio of 1.48 and a debt-to-equity ratio of 0.70.
  • Institutional investors like ORG Partners LLC increased their holdings by 120.4% in the fourth quarter, signaling continued confidence.
  • The company successfully declared a quarterly dividend of $1.72 per share, providing income to shareholders with a 1.7% yield.
Risk Factors
  • Assenagon Asset Management S.A. drastically reduced its stake by 78.3%, selling over 400,000 shares in the first quarter.
  • Director Robert L. Dixon, Jr. sold a portion of his holdings, reducing his ownership percentage by 1.39%.
Full Analysis
Assenagon Asset Management S.A. significantly reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 78.3% during the first quarter, selling 414,729 shares to hold a remaining position of 114,779 shares valued at $33.6 million. While Assenagon exited substantially, other institutional investors like Kemnay Advisory Services Inc., J.Safra Asset Management Corp, and ORG Partners LLC established or increased new positions in the fourth quarter, with hedge funds collectively owning 89.24% of the company's stock. Elevance Health reported strong quarterly financial results on April 22nd, posting $12.58 earnings per share which beat analyst consensus estimates of $10.74 by $1.84. The company generated revenue of $49.49 billion, surpassing the estimated $48.21 billion, with a net margin of 2.62% and a return on equity of 15.58%. Revenue grew by 1.5% year-over-year to $49.49 billion, demonstrating consistent top-line performance despite a modest increase compared to the prior year. The company recently declared a quarterly dividend paid on June 25th to stockholders of record as of June 10th, distributing $1.72 per share which annualizes to $6.88 and yields 1.7%. Director Robert L. Dixon, Jr. sold 151 shares for approximately $60,667 in a transaction on June 11th, reducing his personal ownership by 1.39% while retaining over 10,000 shares valued at roughly $4.3 million. The stock currently trades with a market cap of $85.75 billion and a P/E ratio of 16.80.