Elevance Health, Inc. $ELV Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 390.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,943 shares of the company’s stock after acquiring an additional 2,343 shares during the period. Pallas Capital Advisors LLC’s holdings in Elevance Health were worth $951,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ELV. Norges Bank acquired a new position in shares of Elevance Health in the second quarter valued at approximately $1,148,379,000. Sanders Capital LLC increased its position in Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after purchasing an additional 1,152,440 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new position in Elevance Health in the second quarter valued at approximately $293,141,000. Vanguard Group Inc. lifted its position in Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after buying an additional 704,790 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Elevance Health by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock worth $807,741,000 after buying an additional 487,579 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $332.00 price target on shares of Elevance Health in a report on Thursday, January 29th. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. UBS Group set a $400.00 target price on Elevance Health in a research note on Thursday, January 29th. Finally, Truist Financial decreased their target price on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Price Performance

NYSE ELV opened at $344.40 on Wednesday. The firm has a market capitalization of $76.01 billion, a PE ratio of 13.71, a P/E/G ratio of 1.93 and a beta of 0.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company’s 50 day simple moving average is $352.83 and its 200 day simple moving average is $333.24.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $49.31 billion for 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 company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors 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. This represents a $6.88 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 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.