Elevance Health, Inc. $ELV is Iridian Asset Management LLC CT’s 4th Largest Position

Iridian Asset Management LLC CT raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,103 shares of the company’s stock after purchasing an additional 5,481 shares during the period. Elevance Health accounts for 6.6% of Iridian Asset Management LLC CT’s portfolio, making the stock its 4th largest position. Iridian Asset Management LLC CT’s holdings in Elevance Health were worth $16,836,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC grew its stake in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in Elevance Health in the second quarter valued at $32,000. Motco boosted its holdings in Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares during the last quarter. True Wealth Design LLC grew its position in Elevance Health by 431.8% during the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc increased its stake in Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price objective on the stock. Barclays raised their price target on shares of Elevance Health from $385.00 to $404.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Truist Financial set a $400.00 price target on shares of Elevance Health in a research report on Tuesday, October 14th. Morgan Stanley dropped their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Finally, Cowen reissued a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $400.85.

Elevance Health Trading Down 0.5%

ELV opened at $372.80 on Monday. The firm’s 50 day moving average is $338.20 and its 200-day moving average is $327.98. 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 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $82.85 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.92 and a beta of 0.51.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.37 earnings per share. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Elevance Health 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.