Gotham Asset Management LLC Has $37.94 Million Stock Position in Elevance Health, Inc. $ELV

Gotham Asset Management LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 97.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 117,407 shares of the company’s stock after buying an additional 58,077 shares during the quarter. Gotham Asset Management LLC’s holdings in Elevance Health were worth $37,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of ELV. Nilsine Partners LLC lifted its position in Elevance Health by 1.5% during the 3rd quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after acquiring an additional 29 shares during the last quarter. HBK Sorce Advisory LLC grew its position in shares of Elevance Health by 4.4% in the third quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after purchasing an additional 31 shares during the last quarter. Detalus Advisors LLC increased its stake in shares of Elevance Health by 1.8% in the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock worth $558,000 after purchasing an additional 31 shares during the period. Forum Financial Management LP increased its stake in shares of Elevance Health by 1.1% in the third quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock worth $960,000 after purchasing an additional 33 shares during the period. Finally, Activest Wealth Management lifted its position in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.3%

NYSE ELV opened at $291.69 on Monday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a market capitalization of $64.38 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.61 and a beta of 0.51. The stock’s 50 day moving average is $338.25 and its two-hundred day moving average is $334.45. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The business had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share 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 paid a dividend of $1.72 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio is currently 27.39%.

Wall Street Analyst Weigh In

ELV has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $332.00 target price on shares of Elevance Health in a research note on Thursday, January 29th. Mizuho cut their price target on Elevance Health from $413.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Truist Financial reduced their price objective on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. UBS Group set a $400.00 price objective on shares of Elevance Health in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. upped 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. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $387.40.

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.