Close Asset Management Ltd Reduces Position in Elevance Health, Inc. $ELV

Close Asset Management Ltd decreased its position in Elevance Health, Inc. (NYSE:ELV) by 98.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,823 shares of the company’s stock after selling 368,370 shares during the period. Close Asset Management Ltd’s holdings in Elevance Health were worth $2,205,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELV. Integrated Advisors Network LLC grew its holdings in Elevance Health by 1.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 3,630 shares of the company’s stock worth $1,173,000 after acquiring an additional 39 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of Elevance Health by 3.4% during the third quarter. DNB Asset Management AS now owns 42,258 shares of the company’s stock worth $13,654,000 after purchasing an additional 1,378 shares during the period. Hohimer Wealth Management LLC bought a new stake in shares of Elevance Health in the third quarter worth about $4,627,000. West Family Investments Inc. purchased a new position in Elevance Health during the 3rd quarter valued at about $389,000. Finally, Mesirow Financial Investment Management Inc. raised its position in Elevance Health by 15.2% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,139 shares of the company’s stock valued at $369,000 after purchasing an additional 150 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Leerink Partners raised their price target on Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. UBS Group set a $400.00 price target on shares of Elevance Health in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $332.00 target price on shares of Elevance Health in a research note on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Stock Down 2.3%

NYSE:ELV opened at $322.94 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. The firm’s 50-day moving average price is $350.62 and its 200-day moving average price is $335.19. The company has a market capitalization of $71.28 billion, a PE ratio of 12.86, a P/E/G ratio of 1.83 and a beta of 0.50. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same quarter in the previous year, the firm posted $3.84 earnings per share. Elevance Health’s quarterly revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS 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. Shareholders of record on Tuesday, March 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.1%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend 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.