OP Asset Management Ltd Acquires Shares of 29,278 Elevance Health, Inc. $ELV

OP Asset Management Ltd acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,278 shares of the company’s stock, valued at approximately $8,571,000.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the fourth quarter worth $32,000. ORG Partners LLC grew its holdings in Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Elevance Health in the fourth quarter worth $38,000. Finally, Dorato Capital Management purchased a new position in Elevance Health in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and increased their price target for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Robert W. Baird boosted their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. The Goldman Sachs Group upped their target price on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, UBS Group increased their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Price Performance

Shares of NYSE ELV opened at $387.12 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $381.36 and its 200 day moving average price is $348.69. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $426.98. The stock has a market cap of $84.07 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.17 and a beta of 0.67.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same period last year, the company posted $11.97 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 26.92 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 10th. Elevance Health’s payout ratio is 29.26%.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.