Capital Group Private Client Services Inc. Decreases Holdings in Elevance Health, Inc. $ELV

Capital Group Private Client Services Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 63.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,649 shares of the company’s stock after selling 2,887 shares during the period. Capital Group Private Client Services Inc.’s holdings in Elevance Health were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Norges Bank purchased a new stake in Elevance Health during the 4th quarter worth $1,058,165,000. Bank of New York Mellon Corp boosted its position in Elevance Health by 79.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock worth $844,371,000 after purchasing an additional 1,065,065 shares during the period. Artisan Partners Limited Partnership boosted its position in Elevance Health by 24.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock worth $1,478,857,000 after purchasing an additional 901,626 shares during the period. First Eagle Investment Management LLC boosted its position in Elevance Health by 25.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock valued at $1,292,029,000 after buying an additional 798,457 shares during the last quarter. Finally, Brave Warrior Advisors LLC boosted its position in Elevance Health by 65.3% in the 3rd quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company’s stock valued at $592,603,000 after buying an additional 724,349 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV stock opened at $415.88 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $416.56. The company’s 50-day simple moving average is $354.74 and its 200-day simple moving average is $341.84. The stock has a market capitalization of $90.31 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.35 and a beta of 0.67.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to analysts’ expectations of $48.21 billion. During the same quarter last year, the company posted $11.97 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities analysts anticipate that Elevance Health, Inc. will post 26.94 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ELV shares. Guggenheim raised their target price on Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research note on Friday, April 24th. UBS Group raised their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and raised their target price for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Finally, Leerink Partners set a $364.00 target price on Elevance Health in a research note on Thursday, April 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $411.11.

Elevance Health 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.