Channing Capital Management LLC Increases Position in Elevance Health, Inc. $ELV

Channing Capital Management LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 32.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,049 shares of the company’s stock after buying an additional 8,861 shares during the quarter. Channing Capital Management LLC’s holdings in Elevance Health were worth $11,648,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ELV. Evergreen Wealth Management LLC grew its stake in Elevance Health by 33.5% in the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after purchasing an additional 4,336 shares during the last quarter. Blume Capital Management Inc. grew its position 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 buying an additional 4,320 shares during the last quarter. Canoe Financial LP raised its stake 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 acquiring an additional 59,743 shares in the last quarter. Synergy Asset Management LLC lifted its position in Elevance Health by 100.0% during the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after acquiring an additional 52,167 shares during the last quarter. Finally, Delta Investment Management LLC purchased a new stake in Elevance Health during the third quarter valued at approximately $7,629,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELV. Leerink Partners upped 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. UBS Group set a $400.00 target price on Elevance Health in a research report on Thursday, January 29th. Sanford C. Bernstein lowered their price target on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Morgan Stanley lowered their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Trading Down 1.5%

Shares of NYSE:ELV opened at $342.95 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The stock has a market cap of $75.69 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.90 and a beta of 0.50. The business has a 50-day moving average price of $352.37 and a 200-day moving average price of $334.31.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share 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 company had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the prior year, the company earned $3.84 EPS. Elevance Health’s quarterly revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current 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 given 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 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s payout ratio is presently 27.23%.

Elevance Health Company 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.