MidFirst Bank Makes New $2.95 Million Investment in Elevance Health, Inc. $ELV

MidFirst Bank acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,964 shares of the company’s stock, valued at approximately $2,947,000.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after acquiring an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after acquiring an additional 1,607,274 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after acquiring an additional 455,946 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Elevance Health by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after purchasing an additional 1,306,390 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Leerink Partners set a $364.00 target price on Elevance Health in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Stock Down 0.6%

Shares of NYSE ELV opened at $388.77 on Friday. The stock has a market cap of $84.43 billion, a PE ratio of 16.54, a PEG ratio of 2.21 and a beta of 0.67. The business has a fifty day moving average of $373.89 and a two-hundred day moving average of $346.61. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $426.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS 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 company had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter in the previous year, the company earned $11.97 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be given a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s payout ratio is 29.26%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

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.