Elevance Health, Inc. $ELV Stake Decreased by Citigroup Inc.

Citigroup Inc. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 256,263 shares of the company’s stock after selling 12,289 shares during the quarter. Citigroup Inc.’s holdings in Elevance Health were worth $82,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. boosted its position in Elevance Health by 331.6% during 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 during the period. Activest Wealth Management increased its holdings in shares of Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 34 shares during the period. Rossby Financial LCC raised its stake in shares of Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after purchasing an additional 44 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in Elevance Health by 94.9% in the second 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 period. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Elevance Health in the second quarter worth about $32,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.5%

NYSE:ELV opened at $342.95 on Monday. The business’s fifty day moving average price is $352.37 and its 200 day moving average price is $334.71. The firm has a market capitalization of $75.69 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.90 and a beta of 0.50. 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, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The company had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $332.00 price objective on shares of Elevance Health in a research note on Thursday, January 29th. Guggenheim dropped their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Robert W. Baird lifted their price target on Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.