Blume Capital Management Inc. Raises Stock Holdings in Elevance Health, Inc. $ELV

Blume Capital Management Inc. grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 236.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,145 shares of the company’s stock after buying an additional 4,320 shares during the quarter. Blume Capital Management Inc.’s holdings in Elevance Health were worth $1,986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. increased its holdings in Elevance Health by 331.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Activest Wealth Management increased its stake in shares of Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Elevance Health in the 2nd quarter valued at about $32,000. Finally, Motco boosted its holdings in Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 2.0%

Shares of ELV opened at $338.98 on Monday. The stock has a fifty day simple moving average of $352.03 and a two-hundred day simple moving average of $330.70. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $75.33 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50. 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 analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion during the quarter, compared to analyst estimates of $49.52 billion. During the same quarter in the prior year, the firm posted $3.84 earnings per share. 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. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm 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. 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 currently 27.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ELV shares. Barclays reduced their target price on Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a report on Friday, January 30th. UBS Group set a $400.00 price objective on Elevance Health in a research note on Thursday, January 29th. Royal Bank Of Canada lowered Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective on the stock. in a report on Tuesday, February 3rd. Weiss Ratings lowered shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Finally, Morgan Stanley decreased their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

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.