Wealthedge Investment Advisors LLC Makes New Investment in Elevance Health, Inc. $ELV

Wealthedge Investment Advisors LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,439 shares of the company’s stock, valued at approximately $2,727,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. increased its stake in shares of Elevance Health by 43.1% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 190,821 shares of the company’s stock worth $61,658,000 after purchasing an additional 57,463 shares during the last quarter. Quantbot Technologies LP bought a new position in Elevance Health during the third quarter worth about $6,015,000. Power Wealth Management LLC raised its stake in Elevance Health by 24.1% in the third quarter. Power Wealth Management LLC now owns 5,011 shares of the company’s stock valued at $1,619,000 after buying an additional 974 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Elevance Health by 1.8% in the third quarter. Handelsbanken Fonder AB now owns 74,436 shares of the company’s stock valued at $24,052,000 after buying an additional 1,297 shares during the last quarter. Finally, Banco Santander S.A. increased its holdings in shares of Elevance Health by 8.7% during the 3rd quarter. Banco Santander S.A. now owns 9,012 shares of the company’s stock worth $2,912,000 after acquiring an additional 723 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Barclays cut their target price 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. Weiss Ratings cut shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. raised their price objective on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Leerink Partners upped 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. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Trading Down 0.7%

Shares of Elevance Health stock opened at $320.65 on Friday. The firm’s 50-day moving average price is $350.23 and its two-hundred day moving average price is $335.40. The company has a market capitalization of $70.77 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.79 and a beta of 0.50. The company has a quick ratio of 1.54, a current ratio of 1.54 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 $458.75.

Elevance Health (NYSE:ELV) last announced 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 business 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 was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.1%. 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. Elevance Health’s payout ratio is 27.23%.

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.