Atlas Capital Advisors Inc. Buys New Position in Elevance Health, Inc. $ELV

Key Points

• Atlas Capital Advisors opened a new position in Elevance Health during the fourth quarter, buying 3,503 shares valued at about $1.23 million.
• Elevance Health also saw continued institutional interest, with several other hedge funds adding to or initiating stakes; institutions now own 89.24% of the company.
• The company recently beat quarterly earnings estimates and continues to draw analyst support, with a Moderate Buy consensus and a target price of $416.11.

Atlas Capital Advisors Inc. bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,503 shares of the company's stock, valued at approximately $1,228,000.

Several other hedge funds also recently modified their holdings of ELV. Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of Elevance Health during the 4th quarter valued at $5,941,000. Victory Capital Management Inc. raised its stake in shares of Elevance Health by 31.1% during the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company's stock valued at $149,182,000 after purchasing an additional 109,462 shares during the period. Bright Rock Capital Management LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at $7,362,000. Prana Capital Management LP raised its stake in shares of Elevance Health by 798.9% during the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company's stock valued at $16,684,000 after purchasing an additional 45,889 shares during the period. Finally, Loews Corp raised its stake in shares of Elevance Health by 107.5% during the 3rd quarter. Loews Corp now owns 110,000 shares of the company's stock valued at $35,543,000 after purchasing an additional 57,000 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $403.74 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $87.68 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The business's 50-day moving average price is $366.62 and its 200-day moving average price is $344.97. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $426.98.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion for 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%.The company'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. Sell-side analysts forecast that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a dividend of $1.72 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELV. Barclays boosted their price objective on Elevance Health from $408.00 to $480.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. The Goldman Sachs Group upped their target price on Elevance Health from $350.00 to $370.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Mizuho upped their target price on Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Morgan Stanley upped their target price on Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. Finally, Sanford C. Bernstein upped their target price on Elevance Health from $384.00 to $424.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $416.11.

Elevance Health 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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