Elevance Health, Inc. $ELV is Persistent Asset Partners Ltd’s 3rd Largest Position

Persistent Asset Partners Ltd grew its position in Elevance Health, Inc. (NYSE:ELV) by 195.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,039 shares of the company’s stock after purchasing an additional 15,233 shares during the period. Elevance Health accounts for 3.7% of Persistent Asset Partners Ltd’s holdings, making the stock its 3rd largest position. Persistent Asset Partners Ltd’s holdings in Elevance Health were worth $8,076,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rossby Financial LCC grew its stake in shares of Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after buying an additional 44 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $32,000. ORG Partners LLC boosted its position in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $38,000. Finally, Dorato Capital Management purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Bank of America increased their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Robert W. Baird increased their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Finally, Sanford C. Bernstein increased their price objective on shares of Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $416.11.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Elevance Health stock opened at $397.53 on Wednesday. The firm has a market cap of $86.33 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 2.27 and a beta of 0.67. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $426.98. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $370.56 and its two-hundred day moving average is $345.84.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, research analysts expect that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s dividend payout ratio is 29.26%.

About Elevance Health

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.