Bank of Nova Scotia Buys 40,471 Shares of Elevance Health, Inc. $ELV

Bank of Nova Scotia raised its stake in Elevance Health, Inc. (NYSE:ELV) by 136.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,149 shares of the company’s stock after purchasing an additional 40,471 shares during the period. Bank of Nova Scotia’s holdings in Elevance Health were worth $22,667,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nilsine Partners LLC grew its stake in Elevance Health by 1.5% in the 3rd quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after buying an additional 29 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in Elevance Health by 4.4% during the third quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after acquiring an additional 31 shares during the last quarter. Detalus Advisors LLC lifted its position in Elevance Health by 1.8% during the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock worth $558,000 after acquiring an additional 31 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Elevance Health by 1.1% during the third quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock worth $960,000 after acquiring an additional 33 shares during the period. Finally, Activest Wealth Management grew its position in shares of Elevance Health by 66.7% in the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 34 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Guggenheim lowered their price objective on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. TD Cowen reissued a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the company an “outperform” rating in a research report on Thursday, January 8th. Finally, Jefferies Financial Group decreased their price target on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.40.

Elevance Health Price Performance

Shares of NYSE ELV opened at $291.94 on Tuesday. The stock has a market capitalization of $64.43 billion, a PE ratio of 11.62, a P/E/G ratio of 1.61 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day moving average price of $336.82 and a two-hundred day moving average price of $334.32. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

Elevance Health (NYSE:ELV) last released its 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. 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 during the quarter, compared to the consensus estimate of $49.52 billion. During the same period in the prior year, the company posted $3.84 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities analysts predict 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 paid a dividend of $1.72 per share. The ex-dividend date is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Elevance Health’s dividend payout ratio is currently 27.39%.

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.