OP Asset Management Ltd Makes New Investment in Elevance Health, Inc. $ELV

OP Asset Management Ltd purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the 1st quarter, Holdings Channel.com reports. The fund purchased 29,278 shares of the company’s stock, valued at approximately $8,571,000.

A number of other large investors also recently made changes to their positions in ELV. Sound View Wealth Advisors Group LLC boosted its stake in Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after buying an additional 29 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC lifted its holdings in shares of Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after acquiring an additional 29 shares during the period. Savvy Advisors Inc. boosted its position in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after acquiring an additional 30 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Elevance Health by 6.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock worth $195,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Guggenheim upped their price target on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Barclays lifted their price target on shares of Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Robert W. Baird upped their price objective on Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. UBS Group increased their target price on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Sanford C. Bernstein lifted their target price on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Trading Up 0.8%

NYSE ELV opened at $387.12 on Friday. The firm has a market capitalization of $84.07 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $426.98. The company’s 50 day moving average price is $381.36 and its 200 day moving average price is $348.69.

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. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same period in the previous year, the firm earned $11.97 earnings per share. Elevance Health’s revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 26.92 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s dividend payout ratio is currently 29.26%.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.