Persistent Asset Partners Ltd Makes New $2.52 Million Investment in Elevance Health, Inc. $ELV

Persistent Asset Partners Ltd acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,806 shares of the company’s stock, valued at approximately $2,522,000. Elevance Health comprises about 1.7% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Elevance Health during the second quarter worth about $1,148,379,000. Sanders Capital LLC boosted its position in Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the period. Beutel Goodman & Co Ltd. purchased a new position in Elevance Health during the 2nd quarter valued at about $293,141,000. Vanguard Group Inc. lifted its position in shares of Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after purchasing an additional 704,790 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Elevance Health by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock worth $807,741,000 after acquiring an additional 487,579 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.5%

Elevance Health stock opened at $348.01 on Friday. The firm has a market cap of $76.81 billion, a PE ratio of 13.85, a P/E/G ratio of 1.93 and a beta of 0.50. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The stock’s 50 day simple moving average is $352.69 and its two-hundred day simple moving average is $333.43. 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 issued its quarterly earnings data 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 company had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same period last year, the company earned $3.84 earnings per share. Elevance Health’s quarterly revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be issued a $1.72 dividend. 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 2.0%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s payout ratio is currently 27.23%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELV. Jefferies Financial Group lowered their price target on Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Weiss Ratings lowered Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Sanford C. Bernstein cut their price target on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Finally, Robert W. Baird lifted their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $390.55.

About Elevance Health

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.