Wellington Management Group LLP Buys 303,099 Shares of Elevance Health, Inc. $ELV

Wellington Management Group LLP grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,621,297 shares of the company’s stock after purchasing an additional 303,099 shares during the period. Wellington Management Group LLP owned approximately 2.98% of Elevance Health worth $2,139,473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ELV. Vermillion & White Wealth Management Group LLC grew its holdings 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 in the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Rossby Financial LCC raised its holdings in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after acquiring an additional 44 shares in the last quarter. Activest Wealth Management boosted its position in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 34 shares during the last quarter. Finally, Motco grew its holdings in shares of Elevance Health by 334.8% in the third 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. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Up 1.3%

Shares of ELV opened at $291.69 on Friday. 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 business has a fifty day moving average of $338.25 and a 200 day moving average of $334.11. The company has a market cap of $64.38 billion, a PE ratio of 11.61, a P/E/G ratio of 1.59 and a beta of 0.51. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share 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 for the quarter, compared to analysts’ expectations of $49.52 billion. During the same quarter in the previous year, the business posted $3.84 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors 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 2.4%. The ex-dividend date is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 27.39%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ELV shares. Mizuho reduced their price target on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday. Leerink Partners lifted their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Guggenheim reduced their target price on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $332.00 target price on shares of Elevance Health in a research report on Thursday, January 29th. Finally, Weiss Ratings downgraded shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $387.40.

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.