Elevance Health, Inc. $ELV Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 913,051 shares of the company’s stock after selling 482,748 shares during the period. Alliancebernstein L.P. owned about 0.41% of Elevance Health worth $295,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Vanguard Group Inc. boosted its stake in Elevance Health by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock valued at $7,431,322,000 after acquiring an additional 141,747 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Elevance Health by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,621,297 shares of the company’s stock worth $2,139,473,000 after acquiring an additional 303,099 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after acquiring an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Elevance Health by 24.5% during the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock worth $1,478,857,000 after purchasing an additional 901,626 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Elevance Health by 25.0% in the third quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock worth $1,292,029,000 after purchasing an additional 798,457 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. 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 report on Thursday, December 11th. Barclays lowered their price objective on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Jefferies Financial Group lowered their target price on Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Sanford C. Bernstein cut their price target on Elevance Health from $431.00 to $409.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Trading Up 1.3%

Elevance Health stock opened at $291.69 on Monday. The firm has a 50-day moving average price of $338.25 and a two-hundred day moving average price of $334.45. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The firm has a market capitalization of $64.38 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.61 and a beta of 0.51. 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 (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $49.31 billion for 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%.The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be issued a $1.72 dividend. 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. This represents a $6.88 annualized dividend and a yield of 2.4%. Elevance Health’s dividend payout ratio is currently 27.39%.

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.