Elevance Health, Inc. $ELV Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 169,238 shares of the company’s stock after selling 24,791 shares during the quarter. Elevance Health accounts for approximately 2.3% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Cornerstone Investment Partners LLC owned 0.08% of Elevance Health worth $54,684,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Evergreen Wealth Management LLC increased its holdings in shares of Elevance Health by 33.5% in the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after purchasing an additional 4,336 shares during the last quarter. Blume Capital Management Inc. boosted its stake in Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after buying an additional 4,320 shares during the last quarter. Canoe Financial LP grew its holdings in Elevance Health by 18.1% in the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after buying an additional 59,743 shares in the last quarter. Synergy Asset Management LLC increased its stake in shares of Elevance Health by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after acquiring an additional 52,167 shares during the last quarter. Finally, Delta Investment Management LLC purchased a new position in shares of Elevance Health during the 3rd quarter worth $7,629,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.4%

Shares of ELV opened at $330.07 on Thursday. The company’s 50-day simple moving average is $351.84 and its 200-day simple moving average is $331.27. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.56 and a current ratio of 1.54. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The stock has a market capitalization of $72.85 billion, a PE ratio of 13.14, a P/E/G ratio of 1.81 and a beta of 0.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 firm 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.1%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 27.23%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ELV. Royal Bank Of Canada downgraded shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price on the stock. in a research note on Tuesday, February 3rd. Robert W. Baird raised their price target on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Wells Fargo & Company decreased their price objective on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Leerink Partners increased their price objective on Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Finally, Wolfe Research set a $425.00 target price on Elevance Health and gave the company an “outperform” rating in a research report on Thursday, January 8th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $390.55.

About Elevance Health

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.