Elevance Health, Inc. $ELV Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 38.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,209 shares of the company’s stock after selling 2,018 shares during the quarter. Plato Investment Management Ltd’s holdings in Elevance Health were worth $1,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lowe Brockenbrough & Co. Inc. lifted its stake in Elevance Health by 1.5% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 27,197 shares of the company’s stock valued at $8,788,000 after buying an additional 394 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Elevance Health by 23.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,492 shares of the company’s stock worth $797,000 after acquiring an additional 478 shares during the period. Twin Capital Management Inc. lifted its position in Elevance Health by 49.9% in the 3rd quarter. Twin Capital Management Inc. now owns 2,216 shares of the company’s stock valued at $716,000 after purchasing an additional 738 shares during the last quarter. TenCore Partners LP acquired a new position in Elevance Health during the 3rd quarter valued at about $11,309,000. Finally, Ironwood Investment Counsel LLC bought a new position in Elevance Health in the 3rd quarter worth about $2,550,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ELV has been the subject of several analyst reports. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Mizuho set a $413.00 price target on Elevance Health in a research report on Friday, January 9th. Robert W. Baird increased their price target on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Guggenheim cut their price objective on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Finally, The Goldman Sachs Group started coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Stock Up 2.0%

ELV opened at $338.98 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.56 and a current ratio of 1.54. The company has a market capitalization of $75.33 billion, a PE ratio of 13.49, a P/E/G ratio of 1.89 and a beta of 0.50. The stock’s fifty day moving average is $352.03 and its 200-day moving average is $330.70. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company earned $3.84 earnings per share. Elevance Health’s revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities 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. Investors 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 yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 27.23%.

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.