Assetmark Inc. Acquires 18,913 Shares of Elevance Health, Inc. $ELV

Key Points

• Assetmark Inc. boosted its stake in Elevance Health by 21.8%, adding 18,913 shares to hold 105,688 shares worth about $37.05 million at the end of the quarter.
• Several analysts have cut price targets (e.g., Guggenheim to $396, Wells Fargo to $391, Mizuho to $350) and the stock's consensus rating is "Hold" with a consensus price target of $384.67.
• Elevance beat quarterly EPS estimates ($3.33 vs. $3.10) with revenue up 9.6% YoY, and raised its quarterly dividend to $1.72 (annualized $6.88, ~2.2% yield).

Assetmark Inc. boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 21.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,688 shares of the company's stock after purchasing an additional 18,913 shares during the period. Assetmark Inc.'s holdings in Elevance Health were worth $37,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. bought a new stake in shares of Elevance Health during the fourth quarter worth about $5,941,000. Evergreen Wealth Management LLC increased its position in shares of Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company's stock worth $5,584,000 after acquiring an additional 4,336 shares in the last quarter. Blume Capital Management Inc. increased its position in shares of Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company's stock worth $1,986,000 after acquiring an additional 4,320 shares in the last quarter. Canoe Financial LP increased its position in shares of Elevance Health by 18.1% during the third quarter. Canoe Financial LP now owns 389,399 shares of the company's stock worth $125,823,000 after acquiring an additional 59,743 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Elevance Health by 31.1% during the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company's stock worth $149,182,000 after acquiring an additional 109,462 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent research reports. Guggenheim decreased their target price on shares of Elevance Health from $414.00 to $396.00 and set a "buy" rating for the company in a research report on Thursday, January 29th. 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. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Sunday, February 8th. Weiss Ratings downgraded shares of Elevance Health from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, February 2nd. Finally, Mizuho reduced their price objective on shares of Elevance Health from $413.00 to $350.00 and set an "outperform" rating for the company in a research report on Wednesday, March 11th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $384.67.

Elevance Health Stock Down 0.8%

ELV opened at $313.44 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The stock has a market cap of $68.85 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.74 and a beta of 0.49. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $441.47. The company's 50-day moving average price is $310.23 and its two-hundred day moving average price is $332.09.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.23. The firm had revenue of $49.31 billion for the quarter, compared to analysts' expectations of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th were paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.71. Elevance Health's dividend payout ratio is currently 27.39%.

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.

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