ABN Amro Investment Solutions Cuts Stock Position in Elevance Health, Inc. $ELV

ABN Amro Investment Solutions decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 80.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,270 shares of the company’s stock after selling 9,128 shares during the period. ABN Amro Investment Solutions’ holdings in Elevance Health were worth $733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Aberdeen Group plc lifted its holdings in Elevance Health by 6.5% during the third quarter. Aberdeen Group plc now owns 272,436 shares of the company’s stock valued at $87,276,000 after purchasing an additional 16,547 shares in the last quarter. Cidel Asset Management Inc. raised its position in shares of Elevance Health by 18.2% during the 3rd quarter. Cidel Asset Management Inc. now owns 3,394 shares of the company’s stock worth $1,097,000 after purchasing an additional 523 shares during the last quarter. IMA Advisory Services Inc. lifted its stake in Elevance Health by 3.1% in the 3rd quarter. IMA Advisory Services Inc. now owns 3,760 shares of the company’s stock valued at $1,215,000 after buying an additional 113 shares in the last quarter. Assetmark Inc. boosted its holdings in Elevance Health by 28.2% in the 3rd quarter. Assetmark Inc. now owns 86,775 shares of the company’s stock worth $28,039,000 after buying an additional 19,078 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Elevance Health by 515.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 106,682 shares of the company’s stock worth $34,471,000 after buying an additional 89,350 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 3.1%

NYSE ELV opened at $346.49 on Tuesday. The business’s fifty day simple moving average is $352.53 and its 200-day simple moving average is $332.74. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a market cap of $76.47 billion, a PE ratio of 13.79, a P/E/G ratio of 1.93 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 anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is 27.23%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ELV. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Mizuho set a $413.00 price objective on Elevance Health in a research note on Friday, January 9th. Guggenheim decreased their price objective on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Jefferies Financial Group dropped their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Truist Financial decreased their price target on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.