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Power Corp of Canada Acquires Stake in Elevance Health: A Strong Investment Opportunity in Healthcare Solutions

Power Corp of Canada has recently acquired a new stake in Elevance Health, Inc. This latest acquisition was valued at approximately $4.62 million and accounts for 0.8% of Power Corp’s total holdings, making the stock its 17th biggest holding. Elevance Health offers investors a unique opportunity to invest in a company that is focused on creating innovative healthcare solutions that provide value to patients and healthcare providers alike.

Elevance Health recently announced its quarterly dividend payout, which will be disbursed on June 23rd to all investors of record as of June 9th. The dividend payout will be $1.48 per share, representing an annualized dividend yield of 1.36%. This reflects the company’s strong commitment to providing financial rewards for investors who believe in the innovative healthcare solutions they are developing.

Several research analyst reports have shown their support for Elevance Health’s potential growth in the industry. Cantor Fitzgerald started coverage on Elevance Health with an “overweight” rating and set a price objective of $547 per share on the stock. StockNews.com also gave the stock a “strong-buy” rating after conducting their thorough research analysis.

Deutsche Bank Aktiengesellschaft raised their target price from $571 to $575 per share on April 20th, while TD Cowen dropped their target price from $577 to $564 and set an “outperform” rating on the stock. Wells Fargo & Company also lowered their target price from $597 to $561 per share.

In summary, investing in Elevance Health is an intelligent investment decision due to its innovative approach to solving healthcare issues while providing financial incentives such as dividends to loyal investors who believe in this company’s mission and vision for the future of healthcare development. With positive reviews from top analyst firms such as Deutsche Bank Aktiengesellschaft and Stock News.com, there is no doubt that this company is well positioned for exponential growth in the healthcare industry.

Elevance Health Inc.

ELV

Strong Buy

Updated on: 15/06/2023

Price Target

Current $451.73

Concensus $537.95


Low $335.00

Median $555.00

High $625.00

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Social Sentiments

We did not find social sentiment data for this stock

Analyst Ratings

Analyst / firm Rating
Mizuho Securities Buy
Joseph France
Loop Capital Markets
Buy
Stephen Baxter
Wells Fargo
Buy
BMO Capital Buy
Deutsche Bank Buy

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Elevance Health Inc: Institutional investors adjust positions and show confidence in earnings growth


Elevance Health, Inc. has seen changes in its institutional investorship recently. Hedge funds and other institutional investors have made adjustments to their positions in the company, with some increasing their stakes while others have acquired new positions. Plancorp LLC is one of the companies that lifted its stake in shares of Elevance Health by 2.3% in the first quarter by purchasing an additional 32 shares, now owning 1,436 shares worth $705,000. Merit Financial Group LLC lifted its stake by 6.8%, acquiring an additional 33 shares worth $254,000 while Penserra Capital Management LLC purchased another 46 shares and now owns 1,205 shares worth $591,000.

Crewe Advisors LLC also joined other hedge funds and institutional investors by acquiring a new position in shares of Elevance Health late last year valued at about $25,000. Meanwhile, Moisand Fitzgerald Tamayo LLC acquired a new position in Elevance Health’s stock valued at about the same price around the same time as Crewe Advisors LLC.

The increase in instituational investors’ stakes has given hedge funds an almost total ownership of Elevance Health – they now own around 87.66% of the company’s stock.

In a recent transaction that occurred on Friday, March 24th EVP Gloria M. Mccarthy sold 15,098 shares of Elevance Health’s stock at an average share price of $444.76 earning a total value of $6,714,986.48; McCarthy still holds directly about 51k+ shares worth over $22M according to filed documents and legal filings from the SEC.

Elevance Health also recently announced that it would pay a quarterly dividend which will be paid on Friday June 23rd with an ex-dividend date on Thursday June 8th; Investors of record on Friday June9th will receive a dividend payout of $1.48 per share, reflecting a dividend yield of 1.36%. Elevance Health’s current dividend payout ratio is standing at 23.04%.

Shares in Elevance Health are currently trading on the NYSE at $436.32; the company has a market cap of $103.43 Billion, with a PE ratio of 16.98, a P/E/G Ratio of 1.19 and beta of 0.85 trying to recover losses it recently incurred with events such as the technological crisis resulting in mass equipment failures which caused significant consternation among investors due to increased operating costs and other factors.

Last month (April 2017), following anticipations that emerged among investors, Elevance Health announced its quarterly earnings data on Wednesday, April 19th. The company reported earnings per share (EPS) for the quarter of $9,46 beating consensus estimates by $0.20 and posting positive QoQ growth levels compared with prior year giving boost to investor confidence in stock value rise prediction affirmations for long term investors.

Elevance’s return on equity stands at an impressive 20%, while its net margin is roughly around the region of 4%. For Q1 in FY2017, Elevance posted revenue numbers worth over BRL41 Billion (up from BRL40 billion YoY), translating into a YoY increase in revenue numbers totalling over 10% – figures exceeding analysts’ expectations placing forecasted EPS for the year at about $32.78 for current fiscal year; and providing reassurance concerning future cash flows generating investor sentiment that enabled further value augmentation expectations for this leading player in its industry sector fueling predictions beyond FY2017 for bullish profits raises making it an ideal investment choice right now according to most analyst recommendations.
 
The firm has been monitoring closely the situation as macroeconomic volatility tempts bears – especially since consumer spending trends have shown signs of slowing down, and political events continue to create instability in key markets. However, given the strong Q1 data, coupled with improving macroeconomic indicators globally, there is much optimism surrounding growth prospects; investors seem bullish about Elevance Health’s ability to generate future value having observed the asset fluctuations and investor activity trends over time. The future certainly looks bright for this industry leader with several favourable factors geared towards growth and increased profitability earmarked as it sits poised for perhaps accelerated steady-paced expansion within its space thereby abetting expectations that investment in Elevance Health at this level might represent a valuable prospect ride set to make astronomical gains even as it retains its long-term stability.


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