Easterly Investment Partners LLC Purchases 15,998 Shares of Elevance Health, Inc. $ELV

Key Points

• Easterly Investment Partners increased its stake in Elevance Health by 59% in the fourth quarter, buying 15,998 more shares and bringing its total holding to 43,110 shares worth about $15.1 million.
• Elevance Health reported strong quarterly results, posting $12.58 EPS versus $10.74 expected and revenue of $49.49 billion, while also setting FY 2026 guidance at 19.850 EPS.
• The company announced a quarterly dividend of $1.72 per share, payable June 25, and analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $403.11.

Easterly Investment Partners LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 59.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,110 shares of the company's stock after acquiring an additional 15,998 shares during the period. Elevance Health makes up 0.9% of Easterly Investment Partners LLC's portfolio, making the stock its 22nd biggest holding. Easterly Investment Partners LLC's holdings in Elevance Health were worth $15,112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ELV. Norges Bank bought a new stake in Elevance Health during the fourth quarter valued at about $1,058,165,000. Artisan Partners Limited Partnership boosted its holdings 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 period. First Eagle Investment Management LLC boosted its holdings in 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 acquiring an additional 798,457 shares during the period. Brave Warrior Advisors LLC boosted its holdings in 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 acquiring an additional 724,349 shares during the period. Finally, Baupost Group LLC MA raised its position 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 buying an additional 703,000 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $394.40 on Monday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $408.00. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $85.65 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The firm has a 50-day moving average price of $343.75 and a 200 day moving average price of $339.15.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same quarter in the prior year, the business posted $11.97 earnings per share. The company's quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts anticipate that Elevance Health, Inc. will post 26.94 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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 given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health's dividend payout ratio is 29.26%.

Analyst Ratings Changes

A number of brokerages have recently commented on ELV. Citigroup raised shares of Elevance Health to a "buy" rating in a research report on Wednesday, April 29th. Bank of America raised shares of Elevance Health from a "neutral" rating to a "buy" rating and upped their price objective for the company from $405.00 to $435.00 in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $397.00 to $411.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Evercore reaffirmed a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Finally, Barclays upped their price objective on shares of Elevance Health from $408.00 to $480.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $403.11.

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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.