Rockland Trust Co. Increases Stock Holdings in Elevance Health, Inc. $ELV

Rockland Trust Co. raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8,251.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,308 shares of the company’s stock after purchasing an additional 63,538 shares during the quarter. Rockland Trust Co.’s holdings in Elevance Health were worth $22,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its stake in shares of Elevance Health by 331.6% in 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 period. Rossby Financial LCC grew its position in Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after buying an additional 44 shares during the period. Activest Wealth Management increased its holdings in Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 34 shares during the last quarter. Motco increased its holdings in Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after buying an additional 77 shares during the last quarter. Finally, ORG Partners LLC raised its position in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Mizuho dropped their price target on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Truist Financial reduced their price objective on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. UBS Group set a $400.00 target price on Elevance Health in a report on Thursday, January 29th. Morgan Stanley cut their price target on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Finally, Robert W. Baird upped their price target on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently 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 $293.10 on Wednesday. The company has a market capitalization of $64.38 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.56 and a beta of 0.51. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The firm’s 50 day simple moving average is $318.92 and its two-hundred day simple moving average is $332.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54.

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

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were issued a dividend of $1.72 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, March 10th. Elevance Health’s payout ratio is 27.39%.

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.