Capital International Investors Decreases Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Capital International Investors cut its stake in Elevance Health by 54.5% in Q3, selling 3,533,312 shares and retaining 2,954,717 shares worth about $954.57 million (1.33% ownership).
• Elevance beat EPS estimates with quarterly earnings of $3.33 versus $3.10 expected, while revenue of $49.31 billion slightly missed consensus; the company raised its quarterly dividend to $1.72 (annualized $6.88, ~2.4% yield).
• Analysts hold a consensus "Moderate Buy" with an average target of $390.55 (12 Buys, 9 Holds, 1 Sell), and institutional investors own about 89.24% of the stock.

Capital International Investors reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 54.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,954,717 shares of the company's stock after selling 3,533,312 shares during the period. Capital International Investors owned 1.33% of Elevance Health worth $954,567,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Bank of Montreal Can boosted its stake in Elevance Health by 7.6% during the third quarter. Bank of Montreal Can now owns 225,226 shares of the company's stock worth $72,775,000 after buying an additional 15,952 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Elevance Health by 4.8% in the 3rd quarter. Legal & General Group Plc now owns 1,921,353 shares of the company's stock worth $620,828,000 after acquiring an additional 88,254 shares during the last quarter. Pinkerton Wealth LLC raised its holdings in shares of Elevance Health by 53.8% during the 3rd quarter. Pinkerton Wealth LLC now owns 11,444 shares of the company's stock worth $3,698,000 after acquiring an additional 4,005 shares during the period. Banque Cantonale Vaudoise boosted its position in shares of Elevance Health by 16.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 11,065 shares of the company's stock valued at $3,576,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Vestcor Inc boosted its position in shares of Elevance Health by 29.8% during the 3rd quarter. Vestcor Inc now owns 44,360 shares of the company's stock valued at $14,334,000 after acquiring an additional 10,186 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.8%

Shares of ELV stock opened at $282.92 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The firm has a market cap of $62.44 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.55 and a beta of 0.51. The company has a 50-day moving average of $341.97 and a two-hundred day moving average of $334.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54.

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

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a $1.72 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Elevance Health's dividend payout ratio is presently 27.23%.

Analysts Set New Price Targets

Several research firms recently issued reports on ELV. 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 research report on Friday, January 30th. Jefferies Financial Group dropped their price target on shares of Elevance Health from $401.00 to $395.00 and set a "buy" rating for the company in a research note on Friday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Elevance Health from $394.00 to $397.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Sunday, February 8th. Finally, Truist Financial lowered their price objective on Elevance Health from $400.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $390.55.

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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