Ramirez Asset Management Inc. Sells 3,299 Shares of Elevance Health, Inc. $ELV

Ramirez Asset Management Inc. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 90.4% during the third quarter, Holdings Channel reports. The firm owned 350 shares of the company’s stock after selling 3,299 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Elevance Health were worth $113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. DKRT Investments Corp. grew its stake in Elevance Health by 97.3% during the third quarter. DKRT Investments Corp. now owns 146,000 shares of the company’s stock worth $47,176,000 after purchasing an additional 72,000 shares during the period. One Wealth Map LLC lifted its stake in Elevance Health by 2.1% in the third quarter. One Wealth Map LLC now owns 1,922 shares of the company’s stock valued at $584,000 after buying an additional 39 shares during the period. Foresight Global Investors Inc. acquired a new position in Elevance Health in the third quarter valued at approximately $265,000. Longfellow Investment Management Co. LLC boosted its holdings in shares of Elevance Health by 87.4% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 2,076 shares of the company’s stock worth $671,000 after buying an additional 968 shares in the last quarter. Finally, Perennial Investment Advisors LLC grew its position in shares of Elevance Health by 203.3% during the 3rd quarter. Perennial Investment Advisors LLC now owns 1,953 shares of the company’s stock worth $631,000 after buying an additional 1,309 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ELV. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Sanford C. Bernstein cut their target price on shares of Elevance Health from $431.00 to $409.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. UBS Group set a $400.00 price target on shares of Elevance Health in a report on Thursday, January 29th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $332.00 price objective on shares of Elevance Health in a report on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Price Performance

Shares of ELV opened at $289.56 on Friday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The business’s fifty day moving average is $344.64 and its 200 day moving average is $335.01. 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 stock has a market cap of $63.91 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.58 and a beta of 0.51.

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

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.23%.

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.