Raiffeisen Bank International AG Grows Stake in Elevance Health, Inc. $ELV

Raiffeisen Bank International AG grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 107.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,798 shares of the company’s stock after acquiring an additional 1,971 shares during the period. Raiffeisen Bank International AG’s holdings in Elevance Health were worth $1,214,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ELV. Evergreen Wealth Management LLC raised its holdings in Elevance Health by 33.5% during the 3rd quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after buying an additional 4,336 shares during the last quarter. Blume Capital Management Inc. increased its position in shares of Elevance Health by 236.7% in the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after acquiring an additional 4,320 shares during the period. Canoe Financial LP raised its stake in shares of Elevance Health by 18.1% during the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after acquiring an additional 59,743 shares during the last quarter. Synergy Asset Management LLC raised its stake in shares of Elevance Health by 100.0% during the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after acquiring an additional 52,167 shares during the last quarter. Finally, Delta Investment Management LLC purchased a new stake in shares of Elevance Health during the third quarter worth about $7,629,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. Robert W. Baird boosted their price target on Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. lifted their price objective on Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Guggenheim decreased their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Sanford C. Bernstein dropped their price target on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Finally, Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. 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 company. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Trading Down 1.5%

NYSE ELV opened at $342.95 on Friday. The firm has a market capitalization of $75.69 billion, a PE ratio of 13.65, a P/E/G ratio of 1.90 and a beta of 0.50. The stock’s 50 day moving average is $352.37 and its 200 day moving average is $334.31. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The business had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the prior year, the company earned $3.84 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s dividend payout ratio is 27.23%.

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.