Bright Rock Capital Management LLC Invests $7.36 Million in Elevance Health, Inc. $ELV

Bright Rock Capital Management LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 21,000 shares of the company’s stock, valued at approximately $7,362,000. Elevance Health accounts for about 1.4% of Bright Rock Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership boosted its holdings in Elevance Health by 24.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock worth $1,478,857,000 after buying an additional 901,626 shares during the period. First Eagle Investment Management LLC lifted its holdings in Elevance Health by 25.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock worth $1,292,029,000 after purchasing an additional 798,457 shares in the last quarter. Beutel Goodman & Co Ltd. bought a new position in Elevance Health in the 2nd quarter worth approximately $293,141,000. Brave Warrior Advisors LLC raised its position in shares of Elevance Health by 65.3% during the third quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company’s stock valued at $592,603,000 after buying an additional 724,349 shares during the last quarter. Finally, Baupost Group LLC MA lifted its holdings in shares of Elevance Health by 114.1% in the third quarter. Baupost Group LLC MA now owns 1,319,000 shares of the company’s stock worth $426,195,000 after buying an additional 703,000 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ELV shares. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the company an “outperform” rating in a report on Thursday, January 8th. Wells Fargo & Company reduced their price objective on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Robert W. Baird increased their target price on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Sanford C. Bernstein dropped their price target on shares of Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $387.40.

Elevance Health Stock Down 0.6%

Shares of NYSE ELV opened at $284.64 on Tuesday. The stock has a 50 day moving average price of $320.39 and a 200 day moving average price of $332.68. The firm has a market capitalization of $62.82 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.57 and a beta of 0.51. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. 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 (NYSE:ELV) last posted its earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter last year, the firm posted $3.84 EPS. The company’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. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) 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.