Canoe Financial LP Trims Stake in Elevance Health, Inc. $ELV

Canoe Financial LP lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 370,662 shares of the company’s stock after selling 18,737 shares during the period. Elevance Health makes up 1.8% of Canoe Financial LP’s investment portfolio, making the stock its 22nd largest position. Canoe Financial LP owned 0.17% of Elevance Health worth $129,936,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ELV. Chesley Taft & Associates LLC lifted its position in Elevance Health by 2.7% in the fourth quarter. Chesley Taft & Associates LLC now owns 3,906 shares of the company’s stock valued at $1,369,000 after buying an additional 102 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Elevance Health by 58.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 52,295 shares of the company’s stock valued at $18,332,000 after acquiring an additional 19,339 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in shares of Elevance Health by 5.4% in the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,433 shares of the company’s stock valued at $502,000 after acquiring an additional 74 shares during the period. Accurate Wealth Management LLC lifted its holdings in shares of Elevance Health by 5.3% in the 4th quarter. Accurate Wealth Management LLC now owns 768 shares of the company’s stock worth $286,000 after acquiring an additional 39 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in shares of Elevance Health by 28.8% in the 4th quarter. Capital Investment Advisors LLC now owns 1,194 shares of the company’s stock worth $419,000 after acquiring an additional 267 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV stock opened at $286.23 on Friday. The firm has a 50 day moving average of $322.20 and a two-hundred day moving average of $332.71. The stock has a market capitalization of $63.17 billion, a PE ratio of 11.39, a P/E/G ratio of 1.57 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, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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. The business 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 company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were given a $1.72 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio is 27.39%.

Analyst Ratings Changes

Several research firms recently weighed in on ELV. Guggenheim dropped their target price on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Morgan Stanley lowered their price target on 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. Leerink Partners lifted their price objective on Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $332.00 price objective on shares of Elevance Health in a report on Thursday, January 29th. Finally, Royal Bank Of Canada lowered Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price on the stock. in a research note on Tuesday, February 3rd. Twelve 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. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $387.40.

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.