AIA Group Ltd Raises Holdings in Elevance Health, Inc. $ELV

AIA Group Ltd increased its position in Elevance Health, Inc. (NYSE:ELV) by 71.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 11,125 shares of the company’s stock after purchasing an additional 4,655 shares during the period. AIA Group Ltd’s holdings in Elevance Health were worth $3,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nilsine Partners LLC increased its stake in Elevance Health by 1.5% in the 3rd quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after acquiring an additional 29 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Elevance Health by 4.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after acquiring an additional 31 shares during the last quarter. Detalus Advisors LLC boosted its position in shares of Elevance Health by 1.8% during the 3rd quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after acquiring an additional 31 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Elevance Health by 1.1% in the third quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock valued at $960,000 after purchasing an additional 33 shares in the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Elevance Health by 66.7% in 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 in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 1.2%

NYSE ELV opened at $291.36 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm has a market capitalization of $64.31 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.62 and a beta of 0.51. The company has a fifty day moving average of $332.20 and a two-hundred day moving average of $333.59.

Elevance Health (NYSE:ELV) last released its earnings results 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 firm had revenue of $49.31 billion during the quarter, compared to analyst estimates of $49.52 billion. During the same quarter last year, the business earned $3.84 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a yield of 2.4%. Elevance Health’s payout ratio is 27.39%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ELV shares. Truist Financial decreased their price target on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Robert W. Baird lifted their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. upped their target price on shares of Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Mizuho lowered their price target on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Finally, Wolfe Research set a $425.00 price target on Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.40.

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.