Cary Street Partners Financial LLC Reduces Holdings in Elevance Health, Inc. $ELV

Cary Street Partners Financial LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 45.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,470 shares of the company’s stock after selling 3,724 shares during the period. Cary Street Partners Financial LLC’s holdings in Elevance Health were worth $1,444,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Waddell & Associates LLC lifted its position in shares of Elevance Health by 68.2% in the third quarter. Waddell & Associates LLC now owns 1,209 shares of the company’s stock valued at $391,000 after acquiring an additional 490 shares in the last quarter. Affinity Investment Advisors LLC increased its position in Elevance Health by 3.5% during the 3rd quarter. Affinity Investment Advisors LLC now owns 1,305 shares of the company’s stock worth $422,000 after purchasing an additional 44 shares in the last quarter. Mufg Securities Americas Inc. raised its stake in Elevance Health by 21.3% in the 3rd quarter. Mufg Securities Americas Inc. now owns 6,073 shares of the company’s stock valued at $1,962,000 after purchasing an additional 1,066 shares during the last quarter. AXQ Capital LP purchased a new position in Elevance Health in the 3rd quarter valued at about $601,000. Finally, Compound Planning Inc. boosted its stake in shares of Elevance Health by 16.9% during the 3rd quarter. Compound Planning Inc. now owns 884 shares of the company’s stock worth $286,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.7%

Shares of ELV opened at $320.65 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $70.77 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.50. The stock’s fifty day simple moving average is $350.23 and its 200 day simple moving average is $335.40. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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. The firm had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.1%. This is a positive change 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 presently 27.23%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELV. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Morgan Stanley cut 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. JPMorgan Chase & Co. raised their price objective on Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Royal Bank Of Canada downgraded Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective for the company. in a research report on Tuesday, February 3rd. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Twelve investment 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. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average 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.