ANTM - Anthem's rebranding drive aimed at premium valuation?

More than eight years into its first name change, Health insurer Anthem (NYSE:ANTM) announced another rebranding exercise early this month. This time, the nation’s second-biggest Medicaid insurer is set to embrace a wider healthcare focus with its new name, Elevance Health. However, the names of the company’s Blue Cross Blue Shield health plans will remain unchanged. A shareholder vote on the new brand is scheduled to take place on May 18, Anthem (ANTM) said. “Elevance Health’s companies will serve people across the entire care journey, connecting them to the care, support, and resources they need to lead healthy lives,” Chief Executive Gail Boudreaux noted, signaling diversifications ahead. Diversification allows insurers to add business with prospects of higher margins and faster growth, hoping to reach a premium valuation similar to that of UnitedHealth Group (NYSE:UNH), The Wall Street Journal reported citing Matthew Borsch, an analyst with BMO Capital Markets. “You definitely want to go down

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Anthem’s rebranding drive aimed at premium valuation?