Healthcare of Ontario Pension Plan Trust Fund Raises Position in Elevance Health, Inc. $ELV

Healthcare of Ontario Pension Plan Trust Fund grew its position in Elevance Health, Inc. (NYSE:ELV) by 42.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,785 shares of the company’s stock after acquiring an additional 81,871 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Elevance Health were worth $97,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. increased its holdings in shares of Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after purchasing an additional 11,745 shares in the last quarter. Glenview Trust co increased its holdings in shares of Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after purchasing an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Elevance Health by 6.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after purchasing an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after purchasing an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after purchasing an additional 23,180 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ELV shares. Guggenheim increased their price target on shares of Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a report on Friday, April 24th. Mizuho increased their price target on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and increased their price target for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Finally, Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $416.11.

Elevance Health Price Performance

Shares of NYSE ELV opened at $403.74 on Friday. The stock has a market cap of $87.68 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.29 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’s 50-day moving average price is $366.62 and its 200 day moving average price is $344.86. 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 (NYSE:ELV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to analysts’ expectations 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 prior year, the company earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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