Elevance Health, Inc. $ELV Holdings Raised by Polaris Capital Management LLC

Polaris Capital Management LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 37.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,941 shares of the company’s stock after purchasing an additional 22,800 shares during the quarter. Polaris Capital Management LLC’s holdings in Elevance Health were worth $27,123,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Allen Capital Group LLC raised its position in shares of Elevance Health by 58.5% during the 3rd quarter. Allen Capital Group LLC now owns 13,260 shares of the company’s stock worth $4,285,000 after buying an additional 4,892 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Elevance Health by 2.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,146 shares of the company’s stock worth $2,309,000 after purchasing an additional 160 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Elevance Health by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 943,067 shares of the company’s stock worth $304,724,000 after purchasing an additional 8,023 shares in the last quarter. First Horizon Corp acquired a new stake in Elevance Health in the third quarter worth approximately $142,000. Finally, MGO One Seven LLC boosted its stake in Elevance Health by 31.9% during the 3rd quarter. MGO One Seven LLC now owns 3,635 shares of the company’s stock valued at $1,175,000 after purchasing an additional 880 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Morgan Stanley lowered their target price on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. TD Cowen boosted their price target on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Barclays raised their price objective on shares of Elevance Health from $385.00 to $404.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $431.00 price objective on shares of Elevance Health in a research note on Tuesday, January 6th. Thirteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $400.85.

Elevance Health Trading Up 0.6%

Shares of ELV opened at $375.08 on Tuesday. The business’s 50-day moving average price is $339.44 and its 200 day moving average price is $327.99. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $83.36 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.92 and a beta of 0.51. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company posted $8.37 earnings per share. Analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

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.