Jefferies Financial Group Inc. Acquires 12,451 Shares of Elevance Health, Inc. $ELV

Jefferies Financial Group Inc. grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 1,892.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,109 shares of the company’s stock after acquiring an additional 12,451 shares during the period. Jefferies Financial Group Inc.’s holdings in Elevance Health were worth $4,236,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Evergreen Wealth Management LLC boosted its holdings in Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after purchasing an additional 4,336 shares in the last quarter. Blume Capital Management Inc. raised its holdings in shares of Elevance Health by 236.7% in the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after buying an additional 4,320 shares in the last quarter. Canoe Financial LP lifted its position in shares of Elevance Health by 18.1% during the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock worth $125,823,000 after buying an additional 59,743 shares during the period. Synergy Asset Management LLC lifted its position in shares of Elevance Health by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after buying an additional 52,167 shares during the period. Finally, Delta Investment Management LLC acquired a new stake in Elevance Health in the 3rd quarter valued at $7,629,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of analyst reports. Mizuho set a $413.00 price target on Elevance Health in a research report on Friday, January 9th. Barclays reduced their target price on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $332.00 target price on shares of Elevance Health in a report on Thursday, January 29th. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Finally, Robert W. Baird lifted their price target on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $390.55.

Elevance Health Trading Down 3.1%

Shares of ELV opened at $280.80 on Tuesday. The stock has a fifty day moving average price of $343.29 and a two-hundred day moving average price of $335.14. 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, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a market cap of $61.98 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.60 and a beta of 0.51.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 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 company had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. During the same quarter in the prior year, the business earned $3.84 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.5%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 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.