Elevance Health, Inc. $ELV Shares Sold by Canoe Financial LP

Canoe Financial LP trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,662 shares of the company’s stock after selling 18,737 shares during the quarter. Elevance Health makes up 1.8% of Canoe Financial LP’s investment portfolio, making the stock its 22nd largest position. Canoe Financial LP’s holdings in Elevance Health were worth $129,936,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Elevance Health during the 4th quarter worth about $5,941,000. Evergreen Wealth Management LLC boosted its holdings in Elevance Health by 33.5% in the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after purchasing an additional 4,336 shares in the last quarter. Blume Capital Management Inc. increased its stake in Elevance Health by 236.7% in the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after purchasing an additional 4,320 shares during the last quarter. Synergy Asset Management LLC increased its stake in Elevance Health by 100.0% in the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Elevance Health by 31.1% during the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock worth $149,182,000 after purchasing an additional 109,462 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Mizuho cut their price target on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. JPMorgan Chase & Co. boosted their price target 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. Morgan Stanley decreased their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Finally, Guggenheim dropped their price objective on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $387.40.

Elevance Health Stock Performance

Shares of ELV opened at $286.23 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 cap of $63.17 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.57 and a beta of 0.51. The company’s 50 day simple moving average is $322.20 and its 200-day simple moving average is $332.71. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating the consensus estimate 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 net margin of 2.84% and a return on equity of 15.59%. Elevance Health’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th were issued a $1.72 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. Elevance Health’s dividend payout ratio is currently 27.39%.

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.