Elevance Health, Inc. $ELV Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 42.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,267 shares of the company’s stock after selling 11,137 shares during the period. Cannell & Spears LLC’s holdings in Elevance Health were worth $4,933,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC raised its position in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after buying an additional 63 shares during the last quarter. Rossby Financial LCC grew its holdings in Elevance Health by 110.0% during 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 during the last quarter. Activest Wealth Management increased its position in Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after buying an additional 34 shares in the last quarter. Finally, Motco increased its position in Elevance Health by 334.8% during the third 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.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $291.69 on Monday. The company has a market cap of $64.38 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.61 and a beta of 0.51. The business has a fifty day simple moving average of $338.25 and a 200-day simple moving average of $334.45. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. During the same period in the prior year, the business posted $3.84 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current 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 issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 27.39%.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. UBS Group set a $400.00 price objective on Elevance Health in a research report on Thursday, January 29th. Truist Financial dropped their price objective 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. Leerink Partners boosted their target price on shares of Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Guggenheim decreased their price target on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $387.40.

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.