Elevance Health, Inc. $ELV Stake Raised by Gotham Asset Management LLC

Gotham Asset Management LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 97.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,407 shares of the company’s stock after acquiring an additional 58,077 shares during the quarter. Gotham Asset Management LLC owned approximately 0.05% of Elevance Health worth $37,937,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ELV. Nilsine Partners LLC boosted its holdings in shares of 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 purchasing an additional 29 shares during the period. HBK Sorce Advisory LLC grew its position in Elevance Health by 4.4% during the third 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 increased its stake in 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 buying an additional 31 shares during the period. Forum Financial Management LP increased its stake in Elevance Health by 1.1% in the 3rd quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock valued at $960,000 after buying an additional 33 shares during the period. Finally, Activest Wealth Management lifted its position in Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELV. Mizuho decreased their target price on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. UBS Group set a $400.00 price objective on Elevance Health in a report on Thursday, January 29th. Jefferies Financial Group lowered their target price on Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Wolfe Research set a $425.00 target price on Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Stock Up 1.3%

ELV stock opened at $291.69 on Monday. The firm has a market cap of $64.38 billion, a PE ratio of 11.61, a PEG ratio of 1.61 and a beta of 0.51. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a fifty day simple moving average of $338.25 and a 200 day simple moving average of $334.45. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. During the same period in the prior year, the business posted $3.84 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal 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. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 27.39%.

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.