Allstate Corp Grows Stake in Elevance Health, Inc. $ELV

Key Points

• Allstate Corp more than doubled its Elevance Health stake in the fourth quarter, increasing its holdings by 100.6% to 16,837 shares valued at about $5.9 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors owning 89.24% of Elevance Health shares, and several smaller investors also recently boosting positions.
• Analysts remain constructive on ELV: the stock has a consensus rating of “Moderate Buy” with an average price target of $403.11, while the company also beat quarterly earnings expectations and raised its dividend to $1.72 per share.

Allstate Corp grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 100.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,837 shares of the company's stock after purchasing an additional 8,445 shares during the quarter. Allstate Corp's holdings in Elevance Health were worth $5,902,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ELV. Physician Wealth Advisors Inc. grew its holdings in shares of Elevance Health by 331.6% during the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company's stock valued at $26,000 after buying an additional 63 shares during the last quarter. Activest Wealth Management lifted its position in Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company's stock valued at $27,000 after purchasing an additional 34 shares during the period. Rossby Financial LCC lifted its position in Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company's stock valued at $28,000 after purchasing an additional 44 shares during the period. ORG Partners LLC lifted its position in Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after purchasing an additional 59 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Elevance Health during the fourth quarter valued at $38,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $397.00 to $411.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Jefferies Financial Group decreased their target price 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. Leerink Partners set a $364.00 target price on shares of Elevance Health in a research report on Thursday, April 23rd. Wells Fargo & Company decreased their target price on shares of Elevance Health from $424.00 to $391.00 and set an "overweight" rating for the company in a research report on Friday, January 30th. Finally, Royal Bank Of Canada downgraded shares of Elevance Health from an "outperform" rating to a "sector perform" rating and set a $358.00 target price for the company. in a research report on Tuesday, February 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and a consensus price target of $403.11.

Elevance Health Price Performance

Elevance Health stock opened at $387.83 on Wednesday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $408.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The company's fifty day moving average price is $337.85 and its 200 day moving average price is $337.45. The stock has a market capitalization of $84.22 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.23 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter in the prior year, the firm earned $11.97 EPS. The company's revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts anticipate 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 issued a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. 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.

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