First Trust Advisors LP Has $224.98 Million Stock Position in Elevance Health, Inc. $ELV

First Trust Advisors LP lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 696,268 shares of the company’s stock after selling 160,632 shares during the quarter. First Trust Advisors LP’s holdings in Elevance Health were worth $224,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of ELV. Physician Wealth Advisors Inc. lifted its position in shares of Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. Activest Wealth Management boosted its stake 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 acquiring an additional 34 shares in the last quarter. Rossby Financial LCC increased its holdings in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after acquiring an additional 44 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Elevance Health in the 2nd quarter valued at approximately $32,000. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Robert W. Baird lifted their price target on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Guggenheim decreased their price objective on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Finally, Weiss Ratings lowered shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $289.56 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market cap of $63.91 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.60 and a beta of 0.51. The business’s 50 day moving average is $344.64 and its two-hundred day moving average is $335.17. 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 (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The company had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.Elevance Health’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be issued a $1.72 dividend. 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. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Elevance Health’s payout ratio is currently 27.23%.

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.