TenCore Partners LP Makes New $11.31 Million Investment in Elevance Health, Inc. $ELV

TenCore Partners LP acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the third quarter, Holdings Channel reports. The fund acquired 35,000 shares of the company’s stock, valued at approximately $11,309,000. Elevance Health makes up approximately 5.0% of TenCore Partners LP’s holdings, making the stock its 7th largest position.

Several other institutional investors have also made changes to their positions in the company. Ironwood Investment Counsel LLC acquired a new stake in shares of Elevance Health during the third quarter valued at approximately $2,550,000. Capital Investment Advisory Services LLC boosted its stake in Elevance Health by 68.8% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,566 shares of the company’s stock worth $506,000 after purchasing an additional 638 shares during the period. Waterloo Capital L.P. grew its position in Elevance Health by 9.6% during the 3rd quarter. Waterloo Capital L.P. now owns 786 shares of the company’s stock worth $254,000 after purchasing an additional 69 shares in the last quarter. High Ground Investment Management LLP raised its stake in Elevance Health by 19.1% during the 3rd quarter. High Ground Investment Management LLP now owns 289,232 shares of the company’s stock valued at $93,457,000 after purchasing an additional 46,390 shares during the period. Finally, ABN AMRO Bank N.V. lifted its holdings in shares of Elevance Health by 1.2% in the third quarter. ABN AMRO Bank N.V. now owns 36,528 shares of the company’s stock valued at $11,749,000 after purchasing an additional 448 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of ELV opened at $338.98 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.56 and a current ratio of 1.54. The firm has a market cap of $75.33 billion, a PE ratio of 13.49, a PEG ratio of 1.85 and a beta of 0.50. The firm’s 50 day moving average price is $352.03 and its 200 day moving average price is $330.12. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. The company had revenue of $49.31 billion for 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%. Elevance Health’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.0%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.23%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ELV. Weiss Ratings downgraded Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Truist Financial dropped their target price on Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $332.00 price target on shares of Elevance Health in a report on Thursday, January 29th. UBS Group set a $400.00 price objective on shares of Elevance Health in a research note on Thursday, January 29th. Finally, Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $390.55.

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.