Bessemer Group Inc. Sells 4,178 Shares of Elevance Health, Inc. $ELV

Key Points

• Bessemer Group Inc. cut its stake in Elevance Health by 2.8% in the fourth quarter, selling 4,178 shares and leaving it with 143,194 shares valued at about $50.2 million.
• Institutional ownership remains high, with 89.24% of Elevance Health’s stock held by institutional investors; several large funds notably increased their positions.
• Elevance Health beat quarterly expectations by posting $12.58 EPS versus the $10.74 consensus and $49.49 billion in revenue, while analysts maintain a “Moderate Buy” average rating with a $384.58 target price.

Bessemer Group Inc. reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,194 shares of the company's stock after selling 4,178 shares during the period. Bessemer Group Inc. owned about 0.06% of Elevance Health worth $50,196,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ELV. Artisan Partners Limited Partnership grew its position in Elevance Health by 24.5% during the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company's stock valued at $1,478,857,000 after acquiring an additional 901,626 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Elevance Health by 25.0% during the third quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company's stock valued at $1,292,029,000 after purchasing an additional 798,457 shares during the period. Brave Warrior Advisors LLC boosted its stake in shares of Elevance Health by 65.3% during the third quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company's stock valued at $592,603,000 after purchasing an additional 724,349 shares during the period. Baupost Group LLC MA boosted its stake in shares of Elevance Health by 114.1% during the third quarter. Baupost Group LLC MA now owns 1,319,000 shares of the company's stock valued at $426,195,000 after purchasing an additional 703,000 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Elevance Health by 44.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,045,480 shares of the company's stock valued at $660,935,000 after purchasing an additional 627,038 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ELV shares. Barclays increased their price objective on Elevance Health from $393.00 to $408.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. 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 research note on Tuesday, February 3rd. Jefferies Financial Group dropped their price objective on Elevance Health from $395.00 to $391.00 and set a "buy" rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their price objective on Elevance Health from $397.00 to $411.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Finally, Mizuho dropped their price objective on Elevance Health from $413.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, March 11th. Thirteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $384.58.

Elevance Health Stock Performance

Shares of ELV stock opened at $392.74 on Friday. The stock has a fifty day moving average of $322.88 and a 200 day moving average of $334.02. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $412.96. The firm has a market capitalization of $85.29 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.26 and a beta of 0.66. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same quarter last year, the firm posted $11.97 earnings per share. The firm's revenue 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, research analysts expect that Elevance Health, Inc. will post 26.79 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

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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