Artisan Partners Limited Partnership Boosts Stock Holdings in Elevance Health, Inc. $ELV

Artisan Partners Limited Partnership increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 10.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,032,751 shares of the company’s stock after buying an additional 455,946 shares during the period. Elevance Health accounts for approximately 2.6% of Artisan Partners Limited Partnership’s portfolio, making the stock its 3rd biggest holding. Artisan Partners Limited Partnership’s holdings in Elevance Health were worth $1,764,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Rossby Financial LCC boosted its stake in 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 acquiring an additional 44 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Elevance Health in the fourth quarter worth about $32,000. ORG Partners LLC raised its holdings in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after buying an additional 59 shares during the last quarter. Dorato Capital Management purchased a new position in Elevance Health in the fourth quarter worth about $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Elevance Health in the fourth quarter worth about $38,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELV. Morgan Stanley lifted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Jefferies Financial Group decreased their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday, April 20th. Bank of America lifted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Leerink Partners set a $364.00 target price on shares of Elevance Health in a report on Thursday, April 23rd. Finally, Mizuho lifted their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Fourteen equities 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Stock Down 1.1%

ELV opened at $397.53 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $370.56 and a 200-day moving average price of $345.84. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.98. The stock has a market capitalization of $86.33 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.27 and a beta of 0.67.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same period in the previous year, the company earned $11.97 earnings per share. The firm’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 forecast that Elevance Health, Inc. will post 26.93 earnings per share for the current year.

Elevance Health Announces Dividend

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

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.