Elevance Health, Inc. $ELV Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,372 shares of the company’s stock after purchasing an additional 8,152 shares during the period. Bessemer Group Inc. owned 0.07% of Elevance Health worth $47,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Norges Bank acquired a new position in Elevance Health in the second quarter valued at approximately $1,148,379,000. Sanders Capital LLC raised its position in Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares during the period. Beutel Goodman & Co Ltd. acquired a new position in shares of Elevance Health in the 2nd quarter valued at $293,141,000. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after purchasing an additional 704,790 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Elevance Health by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock worth $807,741,000 after purchasing an additional 487,579 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $332.24 on Friday. The company has a market cap of $73.84 billion, a P/E ratio of 13.23, a PEG ratio of 1.90 and a beta of 0.50. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average price is $351.90 and its 200 day moving average price is $329.69.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the previous year, the firm posted $3.84 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a $1.72 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.1%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio is 27.23%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Robert W. Baird upped their target price on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Leerink Partners upped their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Sanford C. Bernstein lowered their price objective on shares of Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Morgan Stanley dropped their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Finally, Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Twelve equities research 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, Elevance Health has an average rating of “Moderate Buy” and an average price target of $390.55.

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.