Ramirez Asset Management Inc. Sells 3,299 Shares of Elevance Health, Inc. $ELV

Ramirez Asset Management Inc. cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 90.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350 shares of the company’s stock after selling 3,299 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Elevance Health were worth $113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nilsine Partners LLC raised its stake in Elevance Health by 1.5% during the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after acquiring an additional 29 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Elevance Health by 4.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after purchasing an additional 31 shares in the last quarter. Detalus Advisors LLC boosted its stake in shares of Elevance Health by 1.8% in the 3rd quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after purchasing an additional 31 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of Elevance Health by 1.1% during the 3rd quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock valued at $960,000 after purchasing an additional 33 shares during the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $289.56 on Friday. The stock has a market capitalization of $63.91 billion, a PE ratio of 11.53, a PEG ratio of 1.58 and a beta of 0.51. The business’s 50 day simple moving average is $344.64 and its 200 day simple moving average is $335.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

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

Elevance Health Increases Dividend

The company also recently announced 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 boost from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s payout ratio is 27.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ELV. Robert W. Baird increased their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Truist Financial decreased their target price on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Barclays lowered their price target on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Royal Bank Of Canada cut Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target for the company. in a research note on Tuesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $332.00 price objective on shares of Elevance Health in a report on Thursday, January 29th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target 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.