Citigroup Inc. Lowers Holdings in Elevance Health, Inc. $ELV

Citigroup Inc. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,263 shares of the company’s stock after selling 12,289 shares during the period. Citigroup Inc. owned 0.12% of Elevance Health worth $82,804,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Nilsine Partners LLC raised its stake in Elevance Health by 1.5% during the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after purchasing an additional 29 shares during the period. HBK Sorce Advisory LLC boosted its holdings in Elevance Health by 4.4% in the third quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after acquiring an additional 31 shares during the last quarter. Detalus Advisors LLC grew its position in Elevance Health by 1.8% during the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after acquiring an additional 31 shares during the period. Forum Financial Management LP increased its stake in Elevance Health by 1.1% during the third quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock worth $960,000 after acquiring an additional 33 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in shares of Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 1.5%

NYSE:ELV opened at $342.95 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $75.69 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.90 and a beta of 0.50. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The stock has a 50-day simple moving average of $352.37 and a 200 day simple moving average of $334.71.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be issued a $1.72 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend payout ratio is presently 27.23%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Sanford C. Bernstein decreased their target price on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Mizuho set a $413.00 target price on shares of Elevance Health in a research note on Friday, January 9th. Jefferies Financial Group reduced their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Finally, UBS Group set a $400.00 price objective on Elevance Health in a research note on Thursday, January 29th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $390.55.

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.