Arax Advisory Partners Lowers Stock Holdings in Elevance Health, Inc. $ELV

Arax Advisory Partners reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 62.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,401 shares of the company’s stock after selling 10,806 shares during the period. Arax Advisory Partners’ holdings in Elevance Health were worth $2,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Advisory Inc. boosted its holdings in Elevance Health by 4.1% in the fourth quarter. Brown Advisory Inc. now owns 499,939 shares of the company’s stock valued at $175,254,000 after purchasing an additional 19,760 shares during the period. 8 Knots Management LLC boosted its holdings in Elevance Health by 187.5% in the fourth quarter. 8 Knots Management LLC now owns 511,585 shares of the company’s stock valued at $179,336,000 after purchasing an additional 333,635 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Elevance Health in the fourth quarter valued at $1,228,000. Aptus Capital Advisors LLC boosted its holdings in Elevance Health by 2.5% in the fourth quarter. Aptus Capital Advisors LLC now owns 32,629 shares of the company’s stock valued at $11,438,000 after purchasing an additional 809 shares during the period. Finally, Foresight Global Investors Inc. boosted its holdings in Elevance Health by 5.6% in the fourth quarter. Foresight Global Investors Inc. now owns 865 shares of the company’s stock valued at $303,000 after purchasing an additional 46 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Evercore reiterated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Morgan Stanley lifted their target price on Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Finally, Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $416.11.

Elevance Health Stock Down 0.7%

Elevance Health stock opened at $401.19 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $87.12 billion, a P/E ratio of 17.06, a PEG ratio of 2.29 and a beta of 0.67. The stock has a 50-day simple moving average of $368.63 and a 200-day simple moving average of $345.42.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same period in the previous year, the business earned $11.97 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts expect that Elevance Health, Inc. will post 26.93 earnings per share for the current year.

Elevance Health Dividend Announcement

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

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.