Advisors Asset Management Inc. Boosts Holdings in Elevance Health, Inc. $ELV

Advisors Asset Management Inc. increased its position in Elevance Health, Inc. (NYSE:ELV) by 16.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,545 shares of the company’s stock after purchasing an additional 5,143 shares during the quarter. Advisors Asset Management Inc.’s holdings in Elevance Health were worth $11,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Wealth Management LLC raised its stake in Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after acquiring an additional 4,336 shares during the period. Canoe Financial LP raised its position in shares of Elevance Health by 18.1% during the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock worth $125,823,000 after purchasing an additional 59,743 shares during the period. Blume Capital Management Inc. lifted its holdings in shares of Elevance Health by 236.7% in the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after purchasing an additional 4,320 shares during the last quarter. Synergy Asset Management LLC boosted its position in Elevance Health by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares during the period. Finally, Delta Investment Management LLC bought a new position in Elevance Health during the 3rd quarter worth $7,629,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Barclays cut their price target on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Truist Financial decreased their price objective on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. raised their target price on Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Twelve equities research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Trading Down 0.6%

Shares of Elevance Health stock opened at $325.61 on Wednesday. The business has a fifty day simple moving average of $351.86 and a 200-day simple moving average of $331.28. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market cap of $71.87 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.50. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate 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 previous year, the business earned $3.84 earnings per share. Elevance Health’s revenue for the quarter 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 forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s payout ratio is presently 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.