Vanguard Group Inc. Has $7.43 Billion Stock Holdings in Elevance Health, Inc. $ELV

Vanguard Group Inc. lifted its position in Elevance Health, Inc. (NYSE:ELV) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,998,645 shares of the company’s stock after buying an additional 141,747 shares during the quarter. Vanguard Group Inc. owned about 10.35% of Elevance Health worth $7,431,322,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Evergreen Wealth Management LLC increased its stake in shares of Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after purchasing an additional 4,336 shares during the period. Blume Capital Management Inc. lifted its holdings in shares of Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after buying an additional 4,320 shares in the last quarter. Canoe Financial LP grew its stake in shares of Elevance Health by 18.1% in 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 in the last quarter. Synergy Asset Management LLC raised its stake in Elevance Health by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after purchasing an additional 52,167 shares in the last quarter. Finally, Delta Investment Management LLC bought a new stake in Elevance Health in the 3rd quarter valued at about $7,629,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV opened at $346.49 on Tuesday. The stock has a 50-day moving average of $352.53 and a 200-day moving average of $332.74. The company has a market cap of $76.47 billion, a PE ratio of 13.79, a P/E/G ratio of 1.93 and a beta of 0.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. The business had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. Elevance Health’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $332.00 target price on shares of Elevance Health in a report on Thursday, January 29th. 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 note on Wednesday, December 17th. Truist Financial decreased their target price on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Barclays dropped their price target on Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, Guggenheim reduced their price objective on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $390.55.

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.