Elevance Health, Inc. $ELV Stock Position Lifted by Prana Capital Management LP

Prana Capital Management LP lifted its position in Elevance Health, Inc. (NYSE:ELV) by 798.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,633 shares of the company’s stock after acquiring an additional 45,889 shares during the quarter. Prana Capital Management LP’s holdings in Elevance Health were worth $16,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. Cetera Investment Advisers boosted its holdings in Elevance Health by 5.7% in the second quarter. Cetera Investment Advisers now owns 63,434 shares of the company’s stock worth $24,673,000 after purchasing an additional 3,438 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Elevance Health by 9.4% in the 2nd quarter. Avantax Advisory Services Inc. now owns 19,752 shares of the company’s stock worth $7,683,000 after buying an additional 1,694 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Elevance Health by 3.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 48,555 shares of the company’s stock worth $18,887,000 after buying an additional 1,676 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Elevance Health by 5.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 82,011 shares of the company’s stock valued at $31,899,000 after buying an additional 4,405 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its position in shares of Elevance Health by 23.0% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 920 shares of the company’s stock valued at $358,000 after buying an additional 172 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ELV shares. Guggenheim cut 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. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. UBS Group set a $400.00 price target on Elevance Health in a research report on Thursday, January 29th. Truist Financial decreased their price target on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Finally, Leerink Partners lifted their price objective 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. Twelve research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $387.40.

Elevance Health Stock Performance

NYSE:ELV opened at $296.14 on Wednesday. The company has a 50-day moving average of $335.31 and a 200-day moving average of $334.16. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. 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 firm has a market cap of $65.36 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.60 and a beta of 0.51.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $49.52 billion. During the same quarter last year, the firm earned $3.84 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. 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 declared 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 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost 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 presently 27.39%.

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.