Elevance Health, Inc. $ELV Shares Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 195.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,039 shares of the company’s stock after buying an additional 15,233 shares during the period. Elevance Health makes up approximately 3.7% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 3rd biggest holding. Persistent Asset Partners Ltd’s holdings in Elevance Health were worth $8,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Elevance Health by 0.6% during the third quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock valued at $7,431,322,000 after purchasing an additional 141,747 shares during the period. Wellington Management Group LLP increased its stake in shares of Elevance Health by 4.8% during the third quarter. Wellington Management Group LLP now owns 6,621,297 shares of the company’s stock worth $2,139,473,000 after purchasing an additional 303,099 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Elevance Health by 24.5% during the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock worth $1,478,857,000 after purchasing an additional 901,626 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Elevance Health during the fourth quarter worth about $1,058,165,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Elevance Health Stock Down 1.1%

ELV stock opened at $397.53 on Wednesday. The company has a market cap of $86.33 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.27 and a beta of 0.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $426.98. The firm has a 50-day moving average of $370.56 and a two-hundred day moving average of $345.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. Elevance Health’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is 29.26%.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Robert W. Baird boosted their target price on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Jefferies Financial Group cut their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. The Goldman Sachs Group boosted their target price on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Leerink Partners set a $364.00 target price on shares of Elevance Health in a research note on Thursday, April 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $416.11.

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.