5,918 Shares in Elevance Health, Inc. $ELV Acquired by Mangrove Partners IM LLC

Mangrove Partners IM LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, Holdings Channel reports. The firm purchased 5,918 shares of the company’s stock, valued at approximately $1,912,000.

A number of other hedge funds have also recently made changes to their positions in ELV. Evergreen Wealth Management LLC boosted its position in Elevance Health by 33.5% during the 3rd quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after buying an additional 4,336 shares during the period. Blume Capital Management Inc. lifted its holdings in shares of Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after purchasing an additional 4,320 shares during the period. Canoe Financial LP grew its stake in shares of Elevance Health by 18.1% in the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock worth $125,823,000 after purchasing an additional 59,743 shares during the last quarter. Synergy Asset Management LLC increased its holdings in Elevance Health by 100.0% in the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares during the period. Finally, Victory Capital Management Inc. raised its position in Elevance Health by 31.1% during the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock worth $149,182,000 after purchasing an additional 109,462 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ELV. JPMorgan Chase & Co. increased their price target on Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Royal Bank Of Canada downgraded shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price for the company. in a research report on Tuesday, February 3rd. Guggenheim dropped their price target on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Leerink Partners increased their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Finally, Truist Financial cut their price target on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. 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.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $387.40.

Elevance Health Stock Up 1.3%

Elevance Health stock opened at $291.69 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $64.38 billion, a PE ratio of 11.61, a PEG ratio of 1.59 and a beta of 0.51. The firm’s fifty day moving average is $338.25 and its 200 day moving average is $334.11. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

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

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is a boost 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%.

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.