Manning & Napier Advisors LLC Acquires 106,775 Shares of Elevance Health, Inc. $ELV

Manning & Napier Advisors LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 29.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 475,201 shares of the company’s stock after acquiring an additional 106,775 shares during the period. Elevance Health accounts for 2.0% of Manning & Napier Advisors LLC’s portfolio, making the stock its 11th largest position. Manning & Napier Advisors LLC’s holdings in Elevance Health were worth $139,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health in the fourth quarter worth $32,000. ORG Partners LLC grew its stake in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Elevance Health during the fourth quarter worth $38,000. Finally, Dorato Capital Management bought a new position in Elevance Health during the fourth quarter worth $41,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on ELV shares. Truist Financial increased their price target on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 1st. Jefferies Financial Group cut their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Sanford C. Bernstein increased their target price on shares of Elevance Health from $424.00 to $482.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, JPMorgan Chase & Co. boosted their price target on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $425.95.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock traded down $3.85 during mid-day trading on Friday, reaching $416.54. The company’s stock had a trading volume of 779,522 shares, compared to its average volume of 1,495,521. The firm’s 50-day moving average is $397.16 and its two-hundred day moving average is $353.48. The company has a market cap of $90.46 billion, a P/E ratio of 17.72, a PEG ratio of 2.38 and a beta of 0.67. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $427.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. The business 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 revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, research analysts predict that Elevance Health, Inc. will post 26.86 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued a $1.72 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is presently 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.