Investment Management Associates Inc. ADV Buys New Stake in Elevance Health, Inc. $ELV

Investment Management Associates Inc. ADV purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,108 shares of the company’s stock, valued at approximately $4,235,000. Elevance Health accounts for about 1.2% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 20th largest holding.

Other institutional investors have also modified their holdings of the company. Baader Bank Aktiengesellschaft grew its holdings in Elevance Health by 72.3% during the third quarter. Baader Bank Aktiengesellschaft now owns 1,539 shares of the company’s stock worth $487,000 after acquiring an additional 646 shares during the period. Applied Finance Capital Management LLC lifted its holdings in Elevance Health by 7.5% in the third quarter. Applied Finance Capital Management LLC now owns 2,964 shares of the company’s stock valued at $958,000 after acquiring an additional 208 shares during the period. Wealthfront Advisers LLC boosted its position in Elevance Health by 122.5% in the 3rd quarter. Wealthfront Advisers LLC now owns 35,042 shares of the company’s stock worth $11,323,000 after purchasing an additional 19,292 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Elevance Health by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 42,253 shares of the company’s stock worth $13,653,000 after purchasing an additional 2,025 shares during the period. Finally, Western Wealth Management LLC grew its stake in shares of Elevance Health by 4.4% during the 3rd quarter. Western Wealth Management LLC now owns 930 shares of the company’s stock worth $301,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $332.00 price target on shares of Elevance Health in a report on Thursday, January 29th. Royal Bank Of Canada lowered shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price on the stock. in a research note on Tuesday, February 3rd. Leerink Partners raised their target price on Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Finally, Truist Financial lowered their price target on Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health Stock Performance

NYSE ELV opened at $325.61 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.56. The stock’s 50 day simple moving average is $351.86 and its 200-day simple moving average is $331.28. The company has a market cap of $71.87 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.50. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. The firm had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS 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 paid a $1.72 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s payout ratio is 27.23%.

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.