Loews Corp Boosts Stake in Elevance Health, Inc. $ELV

Loews Corp lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 107.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,000 shares of the company’s stock after buying an additional 57,000 shares during the period. Elevance Health comprises approximately 0.3% of Loews Corp’s investment portfolio, making the stock its 3rd biggest position. Loews Corp’s holdings in Elevance Health were worth $35,543,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Advisors Capital Management LLC increased its holdings in Elevance Health by 15.2% in the 2nd quarter. Advisors Capital Management LLC now owns 1,331 shares of the company’s stock worth $518,000 after purchasing an additional 176 shares in the last quarter. Cetera Investment Advisers raised its position in Elevance Health by 5.7% in the second quarter. Cetera Investment Advisers now owns 63,434 shares of the company’s stock valued at $24,673,000 after purchasing an additional 3,438 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Elevance Health by 9.4% during the second quarter. Avantax Advisory Services Inc. now owns 19,752 shares of the company’s stock valued at $7,683,000 after purchasing an additional 1,694 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Elevance Health by 3.6% during the second quarter. Rockefeller Capital Management L.P. now owns 48,555 shares of the company’s stock worth $18,887,000 after purchasing an additional 1,676 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Elevance Health by 5.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 82,011 shares of the company’s stock worth $31,899,000 after purchasing an additional 4,405 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $291.94 on Tuesday. The stock has a market capitalization of $64.43 billion, a PE ratio of 11.62, a PEG ratio of 1.61 and a beta of 0.51. The business’s 50 day simple moving average is $336.82 and its 200 day simple moving average is $334.32. 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, Inc. has a one year low of $273.71 and a one year high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.23. The firm had revenue of $49.31 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid 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 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s payout ratio is 27.39%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ELV. Leerink Partners raised their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. TD Cowen restated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Morgan Stanley dropped their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Finally, Mizuho cut their price target on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $387.40.

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.