Patriot Financial Group Insurance Agency LLC Lowers Position in Elevance Health, Inc. $ELV

Patriot Financial Group Insurance Agency LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 67.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,433 shares of the company’s stock after selling 3,029 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Elevance Health were worth $502,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Sound View Wealth Advisors Group LLC boosted its position in Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after purchasing an additional 29 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its position in Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after purchasing an additional 29 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after purchasing an additional 29 shares in the last quarter. Savvy Advisors Inc. boosted its position in Elevance Health by 3.2% in the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after purchasing an additional 30 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in Elevance Health by 4.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.0%

Shares of NYSE:ELV opened at $323.02 on Monday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $432.93. The firm has a market capitalization of $70.96 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.78 and a beta of 0.49. 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 business’s 50 day moving average price is $308.99 and its 200-day moving average price is $331.91.

Elevance Health (NYSE:ELV) last announced its earnings results 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 firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same quarter last year, the firm posted $3.84 EPS. The business’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, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is 27.39%.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. UBS Group set a $400.00 price objective on Elevance Health in a research report on Thursday, January 29th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Robert W. Baird decreased their target price on Elevance Health from $340.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Barclays decreased their target price on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Truist Financial decreased their target price on Elevance Health from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Twelve equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $383.57.

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.