DAVENPORT & Co LLC Has $201.55 Million Position in Elevance Health, Inc. $ELV

DAVENPORT & Co LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 575,783 shares of the company’s stock after selling 54,420 shares during the period. Elevance Health comprises about 1.1% of DAVENPORT & Co LLC’s portfolio, making the stock its 17th biggest position. DAVENPORT & Co LLC’s holdings in Elevance Health were worth $201,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC boosted its position in Elevance Health by 29.3% during the second quarter. AlphaCore Capital LLC now owns 768 shares of the company’s stock valued at $299,000 after acquiring an additional 174 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Elevance Health by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 97,930 shares of the company’s stock valued at $38,091,000 after purchasing an additional 10,486 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Elevance Health by 14.9% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,507 shares of the company’s stock valued at $2,142,000 after purchasing an additional 714 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Elevance Health during the second quarter worth approximately $1,530,000. Finally, Maripau Wealth Management LLC increased its holdings in Elevance Health by 21.2% in the second quarter. Maripau Wealth Management LLC now owns 662 shares of the company’s stock worth $258,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research analyst reports. Leerink Partners increased their price target on Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Weiss Ratings cut shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $332.00 price target on shares of Elevance Health in a research note on Thursday, January 29th. Finally, UBS Group set a $400.00 price objective on shares of Elevance Health in a research report on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $289.88 on Wednesday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $327.27 and a 200-day moving average price of $333.27. The company has a market cap of $63.98 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51.

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

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. Elevance Health’s payout ratio is 27.39%.

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.