AXQ Capital LP Invests $601,000 in Elevance Health, Inc. $ELV

AXQ Capital LP acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, HoldingsChannel reports. The institutional investor acquired 1,860 shares of the company’s stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Elevance Health by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock valued at $7,431,322,000 after purchasing an additional 141,747 shares in the last quarter. Sanders Capital LLC raised its position in shares of Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Elevance Health by 9.7% in the second quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock valued at $1,429,498,000 after buying an additional 324,399 shares during the last quarter. Norges Bank purchased a new position in shares of Elevance Health during the second quarter valued at approximately $1,148,379,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 4.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,440,630 shares of the company’s stock worth $788,616,000 after acquiring an additional 112,020 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 2.7%

NYSE ELV opened at $326.91 on Wednesday. The firm has a market capitalization of $72.15 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.86 and a beta of 0.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company’s 50 day moving average price is $351.36 and its 200 day moving average price is $335.31.

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

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.1%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.23%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Robert W. Baird boosted their price target on Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. UBS Group set a $400.00 target price on Elevance Health in a research report on Thursday, January 29th. Morgan Stanley lowered their price target on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Finally, Leerink Partners increased their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Company 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.