Bank of Montreal Can Grows Holdings in Elevance Health, Inc. $ELV

Bank of Montreal Can grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,226 shares of the company’s stock after purchasing an additional 15,952 shares during the period. Bank of Montreal Can owned 0.10% of Elevance Health worth $72,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. boosted its stake in Elevance Health by 331.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. Activest Wealth Management increased its stake in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 34 shares during the last quarter. Rossby Financial LCC lifted its holdings in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after acquiring an additional 44 shares during the period. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after acquiring an additional 37 shares during the period. Finally, Motco boosted its position in shares of Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Up 2.4%

NYSE ELV opened at $289.59 on Thursday. 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 fifty-two week low of $273.71 and a fifty-two week high of $458.75. The business has a 50 day moving average price of $340.75 and a two-hundred day moving average price of $334.59. The stock has a market cap of $63.92 billion, a PE ratio of 11.53, a P/E/G ratio of 1.56 and a beta of 0.51.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The business had revenue of $49.31 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s payout ratio is 27.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Sanford C. Bernstein dropped their price target on shares of Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Guggenheim cut their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $332.00 target price on shares of Elevance Health in a report on Thursday, January 29th. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $387.40.

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.