Grantham Mayo Van Otterloo & Co. LLC Raises Stock Holdings in Elevance Health, Inc. $ELV

Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 23.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,523,450 shares of the company’s stock after acquiring an additional 483,340 shares during the quarter. Elevance Health comprises approximately 2.3% of Grantham Mayo Van Otterloo & Co. LLC’s holdings, making the stock its 17th largest holding. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Elevance Health were worth $815,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Elevance Health by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock worth $7,431,322,000 after buying an additional 141,747 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after acquiring an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership grew its position 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 position in 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 in the last quarter. Finally, Norges Bank bought a new stake in Elevance Health during the second quarter worth approximately $1,148,379,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 1.1%

ELV opened at $289.56 on Friday. The stock has a market cap of $63.91 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.60 and a beta of 0.51. The stock’s 50 day moving average price is $344.64 and its 200-day moving average price is $335.17. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion during the quarter, compared to analyst estimates of $49.52 billion. During the same period last year, the company earned $3.84 EPS. Elevance Health’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, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.23%.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. Jefferies Financial Group decreased their price objective on Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Mizuho set a $413.00 price target on Elevance Health in a report on Friday, January 9th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Barclays dropped 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. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

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.