California Public Employees Retirement System Grows Holdings in Elevance Health, Inc. $ELV

California Public Employees Retirement System raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% during the third quarter, HoldingsChannel reports. The fund owned 558,136 shares of the company’s stock after acquiring an additional 19,153 shares during the quarter. California Public Employees Retirement System’s holdings in Elevance Health were worth $180,345,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its position in shares of Elevance Health by 331.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Activest Wealth Management lifted its position in shares of Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares during the last quarter. Rossby Financial LCC grew its stake in Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its stake 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 in the last quarter. Finally, Motco increased its holdings in Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after buying an additional 77 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 1.3%

NYSE:ELV opened at $291.69 on Monday. The firm has a market capitalization of $64.38 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.61 and a beta of 0.51. The business has a 50 day simple moving average of $338.25 and a 200 day simple moving average of $334.45. 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, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same period last year, the company earned $3.84 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, March 10th. This represents a $6.88 annualized dividend and a yield of 2.4%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is 27.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ELV shares. JPMorgan Chase & Co. increased their target price on Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Jefferies Financial Group lowered their price target on Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a report on Friday, January 30th. Truist Financial reduced their price objective on Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Finally, Weiss Ratings lowered shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.40.

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.