Quadrature Capital Ltd Acquires 39,630 Shares of Elevance Health, Inc. $ELV

Quadrature Capital Ltd grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 51.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 116,874 shares of the company’s stock after acquiring an additional 39,630 shares during the period. Quadrature Capital Ltd’s holdings in Elevance Health were worth $37,765,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Elevance Health in the 2nd quarter worth approximately $1,148,379,000. Sanders Capital LLC raised its stake in Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Elevance Health by 24.5% in the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock worth $1,478,857,000 after acquiring an additional 901,626 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Elevance Health by 25.0% in the third quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock worth $1,292,029,000 after acquiring an additional 798,457 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new stake in shares of Elevance Health in the second quarter worth $293,141,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ELV has been the subject of several recent analyst reports. Wolfe Research set a $425.00 price target on Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Truist Financial cut their price objective on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Barclays reduced their price objective on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. UBS Group set a $400.00 target price on shares of Elevance Health in a research note on Thursday, January 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Twelve 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $288.33 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market cap of $63.64 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.60 and a beta of 0.51. The business has a 50-day simple moving average of $339.50 and a two-hundred day simple moving average of $334.27. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

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

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be issued 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 yield of 2.4%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.39%.

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.