Quantbot Technologies LP Makes New Investment in Elevance Health, Inc. $ELV

Quantbot Technologies LP purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, Holdings Channel reports. The fund purchased 18,616 shares of the company’s stock, valued at approximately $6,015,000.

A number of other institutional investors have also recently modified their holdings of ELV. Evergreen Wealth Management LLC increased its holdings in Elevance Health by 33.5% in the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after buying an additional 4,336 shares in the last quarter. Blume Capital Management Inc. boosted its stake in shares of Elevance Health by 236.7% during the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after acquiring an additional 4,320 shares in the last quarter. Canoe Financial LP grew its holdings in shares of Elevance Health by 18.1% in the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock worth $125,823,000 after acquiring an additional 59,743 shares during the period. Synergy Asset Management LLC increased its stake in Elevance Health by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares in the last quarter. Finally, Delta Investment Management LLC acquired a new position in Elevance Health during the third quarter worth $7,629,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ELV. Mizuho set a $413.00 target price on Elevance Health in a report on Friday, January 9th. Leerink Partners boosted their price objective 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. TD Cowen restated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Morgan Stanley cut their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Finally, Barclays lowered their price target on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Price Performance

ELV opened at $320.65 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a 50 day moving average of $350.23 and a two-hundred day moving average of $335.70. The company has a market cap of $70.77 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.77 and a beta of 0.50. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70.

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

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a yield of 2.1%. Elevance Health’s payout ratio is presently 27.23%.

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.