Elevance Health, Inc. $ELV Stake Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.0% during the fourth quarter, Holdings Channel reports. The firm owned 63,820 shares of the company’s stock after buying an additional 4,711 shares during the period. Illinois Municipal Retirement Fund’s holdings in Elevance Health were worth $22,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ELV. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC lifted its holdings in shares of Elevance Health by 3.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after buying an additional 29 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after purchasing an additional 29 shares in the last quarter. Savvy Advisors Inc. grew its position in Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after buying an additional 30 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Elevance Health by 6.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock worth $195,000 after buying an additional 32 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $404.33 on Thursday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $426.98. The stock’s fifty day moving average is $362.40 and its 200-day moving average is $343.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $87.81 billion, a PE ratio of 17.20, a PEG ratio of 2.40 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts expect that Elevance Health, Inc. will post 26.94 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is currently 29.26%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent analyst reports. Evercore reissued a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Morgan Stanley upped their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Finally, Bank of America raised their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $416.11.

Elevance Health 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.