Morningstar Investment Management LLC Trims Position in Elevance Health, Inc. $ELV

Morningstar Investment Management LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 94.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 675 shares of the company’s stock after selling 10,889 shares during the quarter. Morningstar Investment Management LLC’s holdings in Elevance Health were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. New Age Alpha Advisors LLC grew its holdings in Elevance Health by 7.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 8,752 shares of the company’s stock valued at $3,068,000 after buying an additional 590 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in Elevance Health by 6.9% during the 4th quarter. HBK Sorce Advisory LLC now owns 794 shares of the company’s stock valued at $269,000 after buying an additional 51 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Elevance Health by 48.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,064 shares of the company’s stock valued at $373,000 after buying an additional 347 shares in the last quarter. Allen Capital Group LLC grew its holdings in Elevance Health by 4.0% during the 4th quarter. Allen Capital Group LLC now owns 13,784 shares of the company’s stock valued at $4,832,000 after buying an additional 524 shares in the last quarter. Finally, Wealthquest Corp purchased a new position in Elevance Health during the 4th quarter valued at about $377,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird boosted their price objective on Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Evercore reissued a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. The Goldman Sachs Group boosted their price objective on Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada lowered Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective for the company. in a report on Tuesday, February 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $399.32.

Elevance Health Stock Down 0.1%

Shares of NYSE ELV opened at $394.41 on Tuesday. The firm has a market capitalization of $85.65 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.23 and a beta of 0.66. The business has a 50-day moving average of $335.93 and a 200-day moving average of $336.96. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $408.00.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts expect that Elevance Health, Inc. will post 26.91 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

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.