Patriot Financial Group Insurance Agency LLC Decreases Stake in Elevance Health, Inc. $ELV

Patriot Financial Group Insurance Agency LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 67.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,433 shares of the company’s stock after selling 3,029 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Elevance Health were worth $502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. lifted its holdings in Elevance Health by 331.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. Rossby Financial LCC lifted its holdings 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 purchasing an additional 44 shares in the last quarter. Activest Wealth Management lifted its holdings 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 purchasing an additional 34 shares in the last quarter. Motco lifted its holdings in Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.0%

Shares of NYSE:ELV opened at $323.02 on Monday. The business has a 50-day moving average price of $308.99 and a 200 day moving average price of $331.91. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $70.96 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.78 and a beta of 0.49. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $432.93.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.59% and a net margin of 2.84%.The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th were given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio is 27.39%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays decreased their price objective on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Robert W. Baird cut their target price on Elevance Health from $340.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. UBS Group set a $400.00 target price on Elevance Health in a research note on Thursday, January 29th. Royal Bank Of Canada downgraded Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price for the company. in a research note on Tuesday, February 3rd. Finally, Leerink Partners raised their target price on Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Hold” and an average target price of $383.57.

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.