PNC Financial Services Group Inc. Boosts Holdings in Elevance Health, Inc. $ELV

PNC Financial Services Group Inc. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,016 shares of the company’s stock after acquiring an additional 3,440 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Elevance Health were worth $27,699,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELV. Physician Wealth Advisors Inc. raised its position in shares of Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Activest Wealth Management raised its position in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares during the last quarter. Rossby Financial LCC raised its position in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares during the last quarter. ORG Partners LLC raised its position in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elevance Health during the 4th quarter worth about $38,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ELV shares. Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Citigroup upgraded shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group cut their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday, April 20th. Truist Financial cut their price objective on shares of Elevance Health from $390.00 to $375.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Robert W. Baird increased their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $399.32.

Elevance Health Stock Up 1.2%

ELV stock opened at $394.41 on Friday. The company has a market cap of $85.65 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.21 and a beta of 0.66. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $408.00. The firm has a 50-day moving average of $333.81 and a two-hundred day moving average of $336.25.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.91 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

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.