Elevance Health, Inc. $ELV Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 474,024 shares of the company’s stock after selling 48,990 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of Elevance Health worth $153,167,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ELV. Evergreen Wealth Management LLC grew its position in shares of Elevance Health by 33.5% in the 3rd quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after buying an additional 4,336 shares during the last quarter. Canoe Financial LP boosted its holdings in shares of Elevance Health by 18.1% in the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after acquiring an additional 59,743 shares during the period. Synergy Asset Management LLC grew its position in shares of Elevance Health by 100.0% during the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after acquiring an additional 52,167 shares during the last quarter. Delta Investment Management LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at $7,629,000. Finally, Verdence Capital Advisors LLC raised its position in Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after purchasing an additional 790 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ELV shares. Morgan Stanley dropped 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 note on Wednesday, December 17th. Mizuho set a $413.00 price target on Elevance Health in a research report on Friday, January 9th. Robert W. Baird increased their price objective on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. lifted their target price on Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Twelve equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health Stock Up 2.0%

ELV stock opened at $338.98 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $352.03 and its 200 day moving average price is $330.12. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a market cap of $75.33 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.85 and a beta of 0.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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. The company had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio is presently 27.23%.

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.