Beverly Hills Private Wealth LLC Buys 3,800 Shares of Elevance Health, Inc. $ELV

Beverly Hills Private Wealth LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 26.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,346 shares of the company’s stock after purchasing an additional 3,800 shares during the period. Elevance Health comprises approximately 1.0% of Beverly Hills Private Wealth LLC’s portfolio, making the stock its 17th biggest holding. Beverly Hills Private Wealth LLC’s holdings in Elevance Health were worth $5,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Evergreen Wealth Management LLC increased its holdings in shares of Elevance Health by 33.5% in the 3rd quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after purchasing an additional 4,336 shares in the last quarter. Blume Capital Management Inc. lifted its holdings in shares of Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after purchasing an additional 4,320 shares in the last quarter. Canoe Financial LP boosted its position in shares of Elevance Health by 18.1% during the third 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 during the last quarter. Synergy Asset Management LLC increased its holdings in 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 buying an additional 52,167 shares in the last quarter. Finally, Delta Investment Management LLC purchased a new position in Elevance Health in the 3rd quarter worth about $7,629,000. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Sanford C. Bernstein dropped their price target on shares of Elevance Health from $431.00 to $409.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Weiss Ratings lowered shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $332.00 price target on shares of Elevance Health in a research note on Thursday, January 29th. Finally, Truist Financial reduced their price objective on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $390.55.

Elevance Health Stock Performance

Shares of ELV opened at $348.01 on Friday. The business has a 50-day simple moving average of $352.69 and a two-hundred day simple moving average of $333.43. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The stock has a market cap of $76.81 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.93 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The company had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. During the same period in the previous year, the company posted $3.84 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a yield of 2.0%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 27.23%.

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.