Alberta Investment Management Corp Raises Stock Position in Elevance Health, Inc. $ELV

Alberta Investment Management Corp increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 63.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,200 shares of the company’s stock after purchasing an additional 6,700 shares during the period. Alberta Investment Management Corp’s holdings in Elevance Health were worth $6,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ELV. Rossby Financial LCC lifted its stake in shares of Elevance Health by 110.0% during 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. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the fourth quarter worth $32,000. ORG Partners LLC lifted its holdings in Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after buying an additional 59 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Elevance Health in the 4th quarter worth $38,000. Finally, Dorato Capital Management purchased a new position in Elevance Health in the 4th quarter valued at about $41,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the subject of several research analyst reports. Mizuho increased their target price on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Barclays lifted their price target on shares of Elevance Health from $408.00 to $480.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group upped their price target on shares of Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Robert W. Baird raised their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $416.11.

Elevance Health Trading Down 1.1%

NYSE:ELV opened at $397.53 on Wednesday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98. The firm has a market capitalization of $86.33 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The business has a 50 day simple moving average of $370.56 and a 200 day simple moving average of $345.84.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping 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 firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period last year, the company earned $11.97 earnings per share. The firm’s revenue for the quarter 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 predict that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

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

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

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.