TenCore Partners LP Invests $11.31 Million in Elevance Health, Inc. $ELV

TenCore Partners LP acquired a new stake in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 35,000 shares of the company’s stock, valued at approximately $11,309,000. Elevance Health comprises about 5.0% of TenCore Partners LP’s investment portfolio, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $32,000. Physician Wealth Advisors Inc. raised its stake in Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after acquiring an additional 63 shares in the last quarter. Activest Wealth Management boosted its position in 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 acquiring an additional 34 shares during the period. Finally, Glass Jacobson Investment Advisors llc boosted its position in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Morgan Stanley reduced their price target 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. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Stock Up 2.0%

NYSE ELV opened at $338.98 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market capitalization of $75.33 billion, a P/E ratio of 13.49, a PEG ratio of 1.85 and a beta of 0.50. The company’s 50 day simple moving average is $352.03 and its 200 day simple moving average is $330.12. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 2.84% and a return on equity of 15.59%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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