Cary Street Partners Financial LLC Cuts Stock Position in Elevance Health, Inc. $ELV

Cary Street Partners Financial LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 45.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,470 shares of the company’s stock after selling 3,724 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Elevance Health were worth $1,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. Evergreen Wealth Management LLC lifted its stake in shares of Elevance Health by 33.5% in the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after buying an additional 4,336 shares in the last quarter. Blume Capital Management Inc. raised its holdings in Elevance Health by 236.7% in the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after acquiring an additional 4,320 shares during the last quarter. Canoe Financial LP lifted its stake in 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 purchasing an additional 59,743 shares in the last quarter. Synergy Asset Management LLC lifted its stake in Elevance Health by 100.0% in the 3rd 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 position in shares of Elevance Health during the 3rd quarter worth approximately $7,629,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV opened at $320.65 on Friday. The stock’s 50-day simple moving average is $350.23 and its 200-day simple moving average is $335.40. The firm has a market capitalization of $70.77 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.50. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $49.52 billion. During the same quarter in the previous year, the firm posted $3.84 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS 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. Investors of record on Tuesday, March 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio (DPR) is 27.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ELV shares. Mizuho set a $413.00 price objective on shares of Elevance Health in a report on Friday, January 9th. Morgan Stanley decreased their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Robert W. Baird lifted their price target on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Jefferies Financial Group decreased their price objective on Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.55.

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.