Bridgefront Capital LLC Invests $616,000 in Elevance Health, Inc. $ELV

Bridgefront Capital LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,905 shares of the company’s stock, valued at approximately $616,000.

A number of other institutional investors have also recently made changes to their positions in the business. Advisors Capital Management LLC lifted its stake in shares of Elevance Health by 15.2% in the 2nd quarter. Advisors Capital Management LLC now owns 1,331 shares of the company’s stock valued at $518,000 after purchasing an additional 176 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Elevance Health by 4.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,412 shares of the company’s stock valued at $21,553,000 after purchasing an additional 2,374 shares during the last quarter. Cetera Investment Advisers raised its holdings in Elevance Health by 5.7% during the 2nd quarter. Cetera Investment Advisers now owns 63,434 shares of the company’s stock valued at $24,673,000 after buying an additional 3,438 shares during the period. Intech Investment Management LLC raised its holdings in Elevance Health by 12.3% during the 2nd quarter. Intech Investment Management LLC now owns 27,790 shares of the company’s stock valued at $10,809,000 after buying an additional 3,047 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in Elevance Health by 9.4% in the second quarter. Avantax Advisory Services Inc. now owns 19,752 shares of the company’s stock worth $7,683,000 after buying an additional 1,694 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.3%

NYSE:ELV opened at $291.69 on Monday. The company has a market cap of $64.38 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.61 and a beta of 0.51. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $338.25 and a 200-day simple moving average of $334.45.

Elevance Health (NYSE:ELV) last posted its quarterly 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. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. During the same period in the prior year, the business posted $3.84 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company 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 dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio (DPR) is 27.39%.

Analyst Ratings Changes

A number of research analysts have weighed in on ELV shares. Morgan Stanley cut their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Sanford C. Bernstein lowered their target price on shares of Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Barclays dropped their price target on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Twelve equities 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.