HighTower Advisors LLC Reduces Stock Position in Elevance Health, Inc. $ELV

HighTower Advisors LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,264 shares of the company’s stock after selling 2,746 shares during the quarter. HighTower Advisors LLC’s holdings in Elevance Health were worth $11,395,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ELV. Nilsine Partners LLC lifted its holdings in shares of Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after buying an additional 29 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in Elevance Health by 4.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after purchasing an additional 31 shares in the last quarter. Detalus Advisors LLC boosted its holdings in Elevance Health by 1.8% in the 3rd quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after purchasing an additional 31 shares during the period. Forum Financial Management LP grew its position in shares of Elevance Health by 1.1% during the 3rd quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock valued at $960,000 after purchasing an additional 33 shares in the last quarter. Finally, Activest Wealth Management grew its position in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $342.95 on Friday. The stock’s 50-day moving average is $352.37 and its 200 day moving average is $334.31. The stock has a market cap of $75.69 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 1.90 and a beta of 0.50. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last issued its quarterly 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. The business 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 business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Sanford C. Bernstein decreased their target price 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. UBS Group set a $400.00 price target on Elevance Health in a report on Thursday, January 29th. Jefferies Financial Group cut their price objective on Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Weiss Ratings cut shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $390.55.

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.