Bright Rock Capital Management LLC Makes New Investment in Elevance Health, Inc. $ELV

Key Points

• Bright Rock Capital acquired a new stake of 21,000 shares in Elevance Health (NYSE:ELV) in Q4, valued at about $7.36 million, representing 1.4% of the firm's holdings and making ELV its 27th largest position.
• Elevance beat quarterly EPS estimates ($3.33 vs. $3.10) while revenue of $49.31 billion was slightly below expectations, and the company raised its quarterly dividend to $1.72 (annualized $6.88, ~2.4% yield).
• Analysts maintain a consensus "Moderate Buy" on ELV with an average target of $387.40; the stock trades well below that target (recent open ~$284.64) with a market cap of ~$62.8 billion and a P/E of 11.33.

Bright Rock Capital Management LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,000 shares of the company's stock, valued at approximately $7,362,000. Elevance Health comprises 1.4% of Bright Rock Capital Management LLC's holdings, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Physician Wealth Advisors Inc. boosted its position in Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company's stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Activest Wealth Management grew 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 buying an additional 34 shares during the period. Rossby Financial LCC increased its holdings in Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company's stock worth $28,000 after buying an additional 44 shares during the last quarter. Motco raised its position in Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company's stock worth $32,000 after acquiring an additional 77 shares during the period. Finally, True Wealth Design LLC grew its position in shares of Elevance Health by 431.8% during the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company's stock valued at $38,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings downgraded Elevance Health from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, February 2nd. Wells Fargo & Company cut their price objective on shares of Elevance Health from $424.00 to $391.00 and set an "overweight" rating for the company in a report on Friday, January 30th. Wolfe Research set a $425.00 target price on Elevance Health and gave the stock an "outperform" rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of Elevance Health from $394.00 to $397.00 and gave the company an "overweight" rating in a research note on Monday, February 2nd. Finally, Barclays reduced their target price on Elevance Health from $404.00 to $393.00 and set an "overweight" rating for the company in a research report on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $387.40.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $284.64 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $320.39 and a 200-day moving average price of $332.68. The company has a market cap of $62.82 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.57 and a beta of 0.51. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75.

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

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were paid a dividend of $1.72 per share. The ex-dividend date was Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase from Elevance Health's previous quarterly dividend of $1.71. Elevance Health's dividend payout ratio (DPR) is 27.39%.

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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