CI Investments Inc. Sells 10,128 Shares of Elevance Health, Inc. $ELV

Key Points

• CI Investments Inc. cut its stake in Elevance Health by 38.4% in Q3, selling 10,128 shares and leaving 16,259 shares valued at about $5.25 million.
• Institutional ownership remains high at 89.24%, and several large funds—including Vanguard, Sanders Capital, Artisan Partners and Norges Bank—added to or established sizable positions (Vanguard now owns ~22.999 million shares, ~$7.43B).
• Elevance beat quarterly EPS expectations ($3.33 vs. $3.10), raised its quarterly dividend to $1.72 ($6.88 annualized, ~2.4% yield), and trades with a market cap of $64.33B and a P/E of 11.6.

CI Investments Inc. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 38.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,259 shares of the company's stock after selling 10,128 shares during the quarter. CI Investments Inc.'s holdings in Elevance Health were worth $5,254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Vanguard Group Inc. grew its position in Elevance Health by 0.6% in the third quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company's stock valued at $7,431,322,000 after purchasing an additional 141,747 shares in the last quarter. Sanders Capital LLC lifted its position in Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company's stock worth $2,265,773,000 after buying an additional 1,152,440 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Elevance Health by 24.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company's stock worth $1,478,857,000 after buying an additional 901,626 shares during the last quarter. Norges Bank bought a new position in shares of Elevance Health in the 2nd quarter valued at about $1,148,379,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Elevance Health by 4.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,440,630 shares of the company's stock valued at $788,616,000 after acquiring an additional 112,020 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Elevance Health from $394.00 to $397.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Zacks Research raised Elevance Health from a "strong sell" rating to a "hold" rating in a report on Thursday, November 6th. Weiss Ratings cut shares of Elevance Health from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, February 2nd. UBS Group set a $400.00 price target on shares of Elevance Health in a research report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $332.00 price objective on shares of Elevance Health in a research report on Thursday, January 29th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $390.55.

Elevance Health Trading Up 2.6%

Shares of Elevance Health stock opened at $291.46 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day simple moving average of $346.99 and a two-hundred day simple moving average of $335.49. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a market capitalization of $64.33 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 1.57 and a beta of 0.51.

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, beating the consensus estimate of $3.10 by $0.23. The company had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The company's revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Research analysts forecast 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. Stockholders 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 annualized dividend and a dividend yield of 2.4%. Elevance Health's dividend payout ratio (DPR) is currently 27.23%.

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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