Lakewood Capital Management LP Grows Stake in Elevance Health, Inc. $ELV

Lakewood Capital Management LP lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 49.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,650 shares of the company’s stock after buying an additional 99,500 shares during the period. Elevance Health makes up about 7.4% of Lakewood Capital Management LP’s investment portfolio, making the stock its largest holding. Lakewood Capital Management LP owned about 0.14% of Elevance Health worth $97,469,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ELV. Physician Wealth Advisors Inc. increased its holdings in shares of Elevance Health by 331.6% during the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after purchasing an additional 63 shares during the period. Activest Wealth Management grew its position in Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 34 shares in the last quarter. Rossby Financial LCC grew its position in Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after buying an additional 44 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. Finally, Motco raised its position in shares of Elevance Health by 334.8% during the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after buying an additional 77 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ELV. Wolfe Research set a $425.00 price target on shares of Elevance Health and gave the stock an “outperform” rating in a research note on Thursday, January 8th. UBS Group set a $400.00 target price on Elevance Health in a report on Thursday, January 29th. Truist Financial cut their target price on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $332.00 price target on shares of Elevance Health in a research report on Thursday, January 29th. Twelve investment 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.40.

Elevance Health Stock Performance

Shares of ELV opened at $291.69 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. The firm’s 50 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. The stock has a market capitalization of $64.38 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.59 and a beta of 0.51.

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

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio is 27.39%.

Elevance Health Company 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.