Alberta Investment Management Corp Invests $3.39 Million in Elevance Health, Inc. $ELV

Alberta Investment Management Corp acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,500 shares of the company’s stock, valued at approximately $3,393,000.

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

Wall Street Analyst Weigh In

A number of analysts have commented on ELV shares. Leerink Partners lifted their price target on Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Mizuho set a $413.00 price objective on Elevance Health in a report on Friday, January 9th. Morgan Stanley reduced their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company 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. Finally, Sanford C. Bernstein dropped their price target on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Twelve 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. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Stock Up 0.5%

Elevance Health stock opened at $348.01 on Friday. The firm has a market capitalization of $76.81 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.93 and a beta of 0.50. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The stock’s fifty day simple moving average is $352.69 and its 200-day simple moving average is $333.43.

Elevance Health (NYSE:ELV) last released its 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. The firm had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.Elevance Health’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities analysts expect 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 will be paid on Wednesday, March 25th. Shareholders 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 yield of 2.0%. 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 payout ratio 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.