Hohimer Wealth Management LLC Makes New Investment in Elevance Health, Inc. $ELV

Hohimer Wealth Management LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the third quarter, Holdings Channel reports. The firm purchased 14,319 shares of the company’s stock, valued at approximately $4,627,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Elevance Health in the second quarter valued at approximately $1,162,000. Transcend Capital Advisors LLC lifted its holdings in shares of Elevance Health by 6.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 876 shares of the company’s stock valued at $341,000 after purchasing an additional 54 shares during the last quarter. Howard Capital Management Inc. boosted its position in shares of Elevance Health by 25.9% in the 2nd quarter. Howard Capital Management Inc. now owns 1,659 shares of the company’s stock worth $645,000 after purchasing an additional 341 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Elevance Health by 56.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 3,021 shares of the company’s stock worth $1,175,000 after buying an additional 1,089 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Elevance Health by 116.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 277 shares of the company’s stock worth $108,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ELV. Royal Bank Of Canada cut Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target for the company. in a research note on Tuesday, February 3rd. UBS Group set a $400.00 price objective on shares of Elevance Health in a report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Robert W. Baird lifted their target price on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Jefferies Financial Group cut their price target on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Twelve investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Trading Down 2.3%

Elevance Health stock opened at $322.94 on Friday. The stock has a 50-day moving average price of $350.62 and a 200 day moving average price of $335.19. The company has a market capitalization of $71.28 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.83 and a beta of 0.50. 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.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The company had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the prior year, the company earned $3.84 EPS. Elevance Health’s quarterly revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Sell-side analysts anticipate 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. Investors of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.1%. 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. Elevance Health’s dividend payout ratio is 27.23%.

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.