8,439 Shares in Elevance Health, Inc. $ELV Acquired by Wealthedge Investment Advisors LLC

Wealthedge Investment Advisors LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,439 shares of the company’s stock, valued at approximately $2,727,000.

Several other institutional investors also recently modified their holdings of the stock. Harvest Portfolios Group Inc. lifted its stake in shares of Elevance Health by 43.1% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 190,821 shares of the company’s stock valued at $61,658,000 after acquiring an additional 57,463 shares during the last quarter. Quantbot Technologies LP acquired a new position in Elevance Health in the 3rd quarter worth about $6,015,000. Power Wealth Management LLC raised its position in Elevance Health by 24.1% in the third quarter. Power Wealth Management LLC now owns 5,011 shares of the company’s stock valued at $1,619,000 after purchasing an additional 974 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Elevance Health by 1.8% during the third quarter. Handelsbanken Fonder AB now owns 74,436 shares of the company’s stock valued at $24,052,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Banco Santander S.A. grew its holdings in shares of Elevance Health by 8.7% during the third quarter. Banco Santander S.A. now owns 9,012 shares of the company’s stock worth $2,912,000 after purchasing an additional 723 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock opened at $320.65 on Friday. The stock has a market capitalization of $70.77 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.79 and a beta of 0.50. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The stock’s 50 day moving average price is $350.23 and its two-hundred day moving average price is $335.40.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. Elevance Health’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 27.23%.

Analyst Ratings Changes

Several research firms recently commented on ELV. Leerink Partners lifted their target price on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. UBS Group set a $400.00 price objective on shares of Elevance Health in a research note on Thursday, January 29th. Truist Financial lowered their target price on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Finally, Mizuho set a $413.00 target price on Elevance Health in a report on Friday, January 9th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Company 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.