Alberta Investment Management Corp Takes $3.39 Million Position in Elevance Health, Inc. $ELV

Alberta Investment Management Corp acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,500 shares of the company’s stock, valued at approximately $3,393,000.

Other institutional investors have also recently added to or reduced their stakes in the company. CenterBook Partners LP boosted its position in Elevance Health by 20.2% during the third quarter. CenterBook Partners LP now owns 12,078 shares of the company’s stock worth $3,903,000 after acquiring an additional 2,033 shares during the last quarter. MJP Associates Inc. ADV boosted its holdings in shares of Elevance Health by 12.3% during the third quarter. MJP Associates Inc. ADV now owns 1,715 shares of the company’s stock worth $554,000 after purchasing an additional 188 shares during the last quarter. Vista Investment Management grew its position in shares of Elevance Health by 18.3% in the third quarter. Vista Investment Management now owns 5,529 shares of the company’s stock valued at $1,787,000 after purchasing an additional 856 shares during the period. Beirne Wealth Consulting Services LLC acquired a new position in Elevance Health in the third quarter valued at $466,000. Finally, Timber Creek Capital Management LLC lifted its position in Elevance Health by 32.0% during the third quarter. Timber Creek Capital Management LLC now owns 16,652 shares of the company’s stock worth $5,380,000 after buying an additional 4,034 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.5%

Shares of ELV opened at $348.01 on Friday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The stock has a 50-day moving average price of $352.69 and a 200 day moving average price of $333.43. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $76.81 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.93 and a beta of 0.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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 firm had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on ELV. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Guggenheim lowered their price objective on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Royal Bank Of Canada downgraded Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target for the company. in a research report on Tuesday, February 3rd. 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. Finally, Mizuho set a $413.00 target price on shares of Elevance Health in a research report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target 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.