Hosking Partners LLP Has $46.01 Million Stake in Elevance Health, Inc. $ELV

Hosking Partners LLP increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 84.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,382 shares of the company’s stock after buying an additional 65,307 shares during the period. Elevance Health accounts for about 1.7% of Hosking Partners LLP’s investment portfolio, making the stock its 18th biggest holding. Hosking Partners LLP owned approximately 0.06% of Elevance Health worth $46,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Canoe Financial LP lifted its position 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 in the last quarter. OLD National Bancorp IN lifted its position in Elevance Health by 44.8% during the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after buying an additional 1,939 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Elevance Health by 3.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after buying an additional 790 shares during the last quarter. Lombard Odier Asset Management Switzerland SA boosted its stake in shares of Elevance Health by 14.3% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock worth $5,508,000 after buying an additional 1,768 shares during the last quarter. Finally, Synergy Asset Management LLC grew its holdings in shares of Elevance Health by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after acquiring an additional 52,167 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank of America increased their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $320.00 target price (down from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Guggenheim increased their price target on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Truist Financial set a $400.00 price objective on shares of Elevance Health in a research note on Tuesday, October 14th. Thirteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Hold” and a consensus target price of $400.20.

Elevance Health Price Performance

NYSE:ELV opened at $366.68 on Thursday. The company has a market cap of $81.49 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.91 and a beta of 0.51. The firm’s fifty day moving average price is $336.03 and its two-hundred day moving average price is $328.31. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.37 EPS. Equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $1.71 dividend. The ex-dividend date was Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 1.9%. Elevance Health’s payout ratio is 27.96%.

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.