Moore Capital Management LP Boosts Stake in Elevance Health, Inc. $ELV

Moore Capital Management LP lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 149.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,974 shares of the company’s stock after purchasing an additional 17,953 shares during the period. Moore Capital Management LP’s holdings in Elevance Health were worth $9,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its holdings in shares of Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. Activest Wealth Management boosted its holdings in Elevance Health by 66.7% in the third 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 period. Rossby Financial LCC boosted its stake in shares of Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after buying an additional 44 shares during the period. Vermillion & White Wealth Management Group LLC lifted its stake in Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after acquiring an additional 37 shares during the last quarter. Finally, Motco increased its holdings in shares of Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $291.94 on Tuesday. The company has a market cap of $64.43 billion, a P/E ratio of 11.62, a PEG ratio of 1.61 and a beta of 0.51. The stock has a fifty day moving average price of $336.82 and a 200 day moving average price of $334.32. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. 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 (NYSE:ELV) last posted 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 firm had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. During the same period last year, the firm earned $3.84 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, 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. Stockholders of record on Tuesday, March 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s payout ratio is 27.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ELV shares. Jefferies Financial Group cut their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Mizuho reduced their price objective 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. Guggenheim decreased their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Morgan Stanley decreased their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $387.40.

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.