Elevance Health, Inc. $ELV Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in Elevance Health, Inc. (NYSE:ELV) by 35.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,709 shares of the company’s stock after acquiring an additional 6,711 shares during the period. Pacer Advisors Inc.’s holdings in Elevance Health were worth $8,307,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. CreativeOne Wealth LLC lifted its stake in Elevance Health by 6.3% during the first quarter. CreativeOne Wealth LLC now owns 1,328 shares of the company’s stock worth $578,000 after purchasing an additional 79 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Elevance Health in the 1st quarter valued at $764,000. WPG Advisers LLC acquired a new position in Elevance Health during the 1st quarter worth about $29,000. Magnetar Financial LLC boosted its holdings in Elevance Health by 126.0% during the 1st quarter. Magnetar Financial LLC now owns 4,432 shares of the company’s stock valued at $1,928,000 after acquiring an additional 2,471 shares during the period. Finally, Evergreen Capital Management LLC grew its position in Elevance Health by 37.6% in the 1st quarter. Evergreen Capital Management LLC now owns 1,218 shares of the company’s stock valued at $530,000 after acquiring an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.9%

Shares of NYSE:ELV opened at $349.84 on Monday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company’s 50 day moving average is $334.07 and its two-hundred day moving average is $329.16. The company has a market cap of $77.75 billion, a PE ratio of 14.30, a P/E/G ratio of 1.62 and a beta of 0.52. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the previous year, the firm posted $8.37 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s payout ratio is presently 27.96%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELV. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Robert W. Baird upped their target price on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley decreased their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Finally, Barclays reduced their price objective on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $396.21.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.