Close Asset Management Ltd Sells 368,370 Shares of Elevance Health, Inc. $ELV

Close Asset Management Ltd decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 98.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,823 shares of the company’s stock after selling 368,370 shares during the period. Close Asset Management Ltd’s holdings in Elevance Health were worth $2,205,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ELV. Physician Wealth Advisors Inc. grew its stake in Elevance Health by 331.6% during the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after acquiring an additional 63 shares in the last quarter. Activest Wealth Management boosted its holdings in Elevance Health by 66.7% in 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 during the period. Rossby Financial LCC boosted its holdings in Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after purchasing an additional 44 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 37 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Elevance Health in the second quarter worth $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 2.3%

Shares of NYSE ELV opened at $322.94 on Friday. The stock has a market capitalization of $71.28 billion, a P/E ratio of 12.86, a PEG ratio of 1.83 and a beta of 0.50. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The firm’s 50 day simple moving average is $350.62 and its two-hundred day simple moving average is $335.19. 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 announced its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $49.52 billion. During the same quarter in the prior year, the company earned $3.84 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.1%. 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. Elevance Health’s payout ratio is 27.23%.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. TD Cowen reissued a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. UBS Group set a $400.00 target price on shares of Elevance Health in a research note on Thursday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley lowered their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Twelve 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 company’s stock. According to data from MarketBeat.com, the company presently 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.