Elevance Health, Inc. $ELV Shares Sold by Prudential PLC

Prudential PLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,274 shares of the company’s stock after selling 2,888 shares during the quarter. Prudential PLC’s holdings in Elevance Health were worth $6,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rossby Financial LCC lifted its stake in shares of Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after purchasing an additional 44 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares during the last quarter. Dorato Capital Management acquired a new position in shares of Elevance Health in the 4th quarter valued at $41,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elevance Health in the 4th quarter valued at $38,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ELV. JPMorgan Chase & Co. upped their price target on Elevance Health from $397.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Robert W. Baird upped their price target on Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Leerink Partners set a $364.00 price target on Elevance Health in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein boosted their price objective on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $411.11.

Elevance Health Price Performance

Shares of NYSE ELV opened at $415.88 on Friday. The stock’s 50-day moving average is $354.74 and its two-hundred day moving average is $341.76. The company has a market cap of $90.31 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.35 and a beta of 0.67. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $416.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts forecast that Elevance Health, Inc. will post 26.94 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio is currently 29.26%.

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.