American Century Companies Inc. Boosts Stock Position in Elevance Health, Inc. $ELV

American Century Companies Inc. boosted its position in Elevance Health, Inc. (NYSE:ELV) by 7.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,946 shares of the company’s stock after purchasing an additional 7,016 shares during the quarter. American Century Companies Inc.’s holdings in Elevance Health were worth $33,911,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crestwood Advisors Group LLC lifted its position in Elevance Health by 3.6% during the second quarter. Crestwood Advisors Group LLC now owns 1,090 shares of the company’s stock valued at $424,000 after acquiring an additional 38 shares during the last quarter. Moors & Cabot Inc. grew its holdings in Elevance Health by 7.0% in the second quarter. Moors & Cabot Inc. now owns 745 shares of the company’s stock worth $290,000 after purchasing an additional 49 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Elevance Health by 7.0% during the second quarter. First Horizon Advisors Inc. now owns 900 shares of the company’s stock worth $350,000 after purchasing an additional 59 shares in the last quarter. Malaga Cove Capital LLC purchased a new stake in shares of Elevance Health during the 2nd quarter valued at $328,000. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of Elevance Health during the 2nd quarter valued at $730,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 1.1%

NYSE ELV opened at $289.56 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $63.91 billion, a PE ratio of 11.53, a P/E/G ratio of 1.60 and a beta of 0.51. The company has a fifty day moving average of $344.64 and a 200 day moving average of $335.17.

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, topping the consensus estimate 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%.The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current 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 dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.4%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.23%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Leerink Partners increased their price target on Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Barclays lowered their price target on Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, Jefferies Financial Group decreased their price objective on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Twelve 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. Based on data from MarketBeat, the company presently has a consensus 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.