Prospera Financial Services Inc Trims Stock Position in Elevance Health, Inc. $ELV

Prospera Financial Services Inc decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 76.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,300 shares of the company’s stock after selling 4,112 shares during the quarter. Prospera Financial Services Inc’s holdings in Elevance Health were worth $422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. ProShare Advisors LLC grew its position in shares of Elevance Health by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 42,253 shares of the company’s stock valued at $13,653,000 after acquiring an additional 2,025 shares during the period. Western Wealth Management LLC grew its holdings in Elevance Health by 4.4% during the third quarter. Western Wealth Management LLC now owns 930 shares of the company’s stock valued at $301,000 after purchasing an additional 39 shares during the period. Blume Capital Management Inc. increased its position in Elevance Health by 236.7% in the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after buying an additional 4,320 shares in the last quarter. Tempus Wealth Planning LLC bought a new position in shares of Elevance Health in the third quarter worth about $662,000. Finally, Lowe Brockenbrough & Co. Inc. lifted its position in shares of Elevance Health by 1.5% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 27,197 shares of the company’s stock valued at $8,788,000 after buying an additional 394 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

NYSE:ELV opened at $346.49 on Tuesday. The business’s 50-day moving average is $352.53 and its 200 day moving average is $332.74. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market capitalization of $76.47 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.93 and a beta of 0.50. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last released 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 business had revenue of $49.31 billion for 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 revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities research analysts forecast 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. Shareholders of record on Tuesday, March 10th will be given 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 (DPR) is 27.23%.

Analysts Set New Price Targets

A number of research firms have commented on ELV. Jefferies Financial Group decreased their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Morgan Stanley decreased their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Mizuho set a $413.00 price target on Elevance Health in a research note on Friday, January 9th. Finally, UBS Group set a $400.00 price objective on Elevance Health in a research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $390.55.

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.