Moore Capital Management LP Acquires 17,953 Shares of Elevance Health, Inc. $ELV

Moore Capital Management LP raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 149.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,974 shares of the company’s stock after acquiring an additional 17,953 shares during the quarter. Moore Capital Management LP’s holdings in Elevance Health were worth $9,685,000 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 raised its holdings in shares of Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in Elevance Health by 331.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Rossby Financial LCC lifted its stake in shares of Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after acquiring an additional 44 shares during the period. Activest Wealth Management lifted its position in Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 34 shares during the period. Finally, Motco lifted its stake in shares of Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ELV. Morgan Stanley decreased their target price on 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. Sanford C. Bernstein cut their price target on shares of Elevance Health from $431.00 to $409.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. UBS Group set a $400.00 price objective on shares of Elevance Health in a research note on Thursday, January 29th. Jefferies Financial Group decreased their price objective on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a report on Friday, January 30th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Price Performance

NYSE:ELV opened at $291.94 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The stock’s 50-day simple moving average is $336.82 and its 200 day simple moving average is $334.32. The company has a market cap of $64.43 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.61 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.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. The firm 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%.The business’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 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, sell-side analysts forecast 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. Stockholders of record on Tuesday, March 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 27.39%.

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.