Beverly Hills Private Wealth LLC Boosts Holdings in Elevance Health, Inc. $ELV

Beverly Hills Private Wealth LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,346 shares of the company’s stock after purchasing an additional 3,800 shares during the quarter. Elevance Health makes up approximately 1.0% of Beverly Hills Private Wealth LLC’s holdings, making the stock its 17th biggest position. Beverly Hills Private Wealth LLC’s holdings in Elevance Health were worth $5,928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. Evergreen Wealth Management LLC increased its holdings in Elevance Health by 33.5% in the 3rd quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after acquiring an additional 4,336 shares during the last quarter. Blume Capital Management Inc. grew its position in shares of Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after purchasing an additional 4,320 shares in the last quarter. Canoe Financial LP grew its position in shares of Elevance Health by 18.1% during the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after purchasing an additional 59,743 shares in the last quarter. Synergy Asset Management LLC increased its holdings in shares of Elevance Health by 100.0% in the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after purchasing an additional 52,167 shares during the last quarter. Finally, Delta Investment Management LLC purchased a new stake in shares of Elevance Health in the third quarter worth about $7,629,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Sanford C. Bernstein reduced their price objective on Elevance Health from $431.00 to $409.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Truist Financial cut their target price on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Wells Fargo & Company decreased their price target on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Finally, Barclays reduced their target price on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $390.55.

Elevance Health Stock Up 0.5%

Shares of NYSE ELV opened at $348.01 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The firm has a 50-day simple moving average of $352.69 and a two-hundred day simple moving average of $333.43. The company has a market cap of $76.81 billion, a P/E ratio of 13.85, a PEG ratio of 1.93 and a beta of 0.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 EPS 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 for the quarter, compared to analysts’ expectations of $49.52 billion. During the same quarter in the prior year, the firm posted $3.84 earnings per share. The company’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. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm 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 dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.0%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.23%.

Elevance Health Profile

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.