Federated Hermes Inc. Decreases Stock Position in Elevance Health, Inc. $ELV

Federated Hermes Inc. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 95.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,241 shares of the company’s stock after selling 25,361 shares during the quarter. Federated Hermes Inc.’s holdings in Elevance Health were worth $401,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Blair William & Co. IL grew its holdings in shares of Elevance Health by 3.0% during the second quarter. Blair William & Co. IL now owns 6,260 shares of the company’s stock worth $2,435,000 after buying an additional 180 shares in the last quarter. Callan Family Office LLC boosted its position in Elevance Health by 123.6% during the second quarter. Callan Family Office LLC now owns 4,505 shares of the company’s stock worth $1,752,000 after acquiring an additional 2,490 shares during the last quarter. IFP Advisors Inc grew its stake in Elevance Health by 6.8% during the 2nd quarter. IFP Advisors Inc now owns 704 shares of the company’s stock valued at $300,000 after acquiring an additional 45 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Elevance Health in the 2nd quarter valued at about $43,000. Finally, Apollon Wealth Management LLC lifted its stake in Elevance Health by 30.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 3,421 shares of the company’s stock worth $1,330,000 after purchasing an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 2.0%

Shares of ELV opened at $338.98 on Monday. The company’s 50-day moving average price is $352.03 and its 200 day moving average price is $330.70. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 0.70. The firm has a market cap of $75.33 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The business had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the business earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. Elevance Health’s payout ratio is currently 27.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $332.00 price target on shares of Elevance Health in a research report on Thursday, January 29th. Sanford C. Bernstein cut their target price on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Wells Fargo & Company cut their price objective on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Finally, Mizuho set a $413.00 target price on shares of Elevance Health in a report on Friday, January 9th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health 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.