Elevance Health, Inc. $ELV Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,841 shares of the company’s stock after selling 1,649 shares during the period. New York Life Investment Management LLC’s holdings in Elevance Health were worth $10,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Elevance Health in the second quarter valued at $1,148,379,000. Sanders Capital LLC raised its position in Elevance Health by 24.7% in the 2nd 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 in the last quarter. Beutel Goodman & Co Ltd. purchased a new position in shares of Elevance Health in the 2nd quarter valued at about $293,141,000. Vanguard Group Inc. boosted 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 buying an additional 704,790 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Elevance Health by 30.7% during the second quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock worth $807,741,000 after buying an additional 487,579 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 3.7%

Shares of Elevance Health stock opened at $326.44 on Tuesday. The company has a 50-day moving average of $351.97 and a two-hundred day moving average of $331.02. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 0.70. The stock has a market cap of $72.55 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last released its 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 firm had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. During the same period in the previous year, the company earned $3.84 EPS. Elevance Health’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a dividend 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 currently 27.23%.

Analyst Ratings Changes

A number of equities analysts recently commented on ELV shares. Jefferies Financial Group lowered their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Truist Financial cut their price target on Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Guggenheim decreased their price target on Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a report on Thursday, January 29th. The Goldman Sachs Group started coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price objective on the stock. Finally, Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.