Elevance Health, Inc. $ELV Position Boosted by Artisan Partners Limited Partnership

Key Points

• Artisan Partners boosted its stake in Elevance Health by 10% in the fourth quarter, buying 455,946 more shares and bringing its total holding to 5.03 million shares worth about $1.76 billion.
• Elevance Health reported better-than-expected quarterly results, posting EPS of $12.58 versus estimates of $10.74 and revenue of $49.49 billion versus expectations of $48.21 billion.
• The company also announced a quarterly dividend of $1.72 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $416.11.

Artisan Partners Limited Partnership increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,032,751 shares of the company's stock after purchasing an additional 455,946 shares during the quarter. Elevance Health accounts for 2.6% of Artisan Partners Limited Partnership's investment portfolio, making the stock its 3rd biggest position. Artisan Partners Limited Partnership owned 2.28% of Elevance Health worth $1,764,231,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rossby Financial LCC increased its position in shares of Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company's stock valued at $28,000 after acquiring an additional 44 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the fourth quarter valued at about $32,000. ORG Partners LLC increased its position in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after acquiring an additional 59 shares during the period. Dorato Capital Management purchased a new position in shares of Elevance Health in the fourth quarter valued at about $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Elevance Health in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company's stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by insiders.

Elevance Health Trading Down 1.1%

Shares of ELV opened at $397.53 on Wednesday. The firm's 50-day moving average price is $370.56 and its 200-day moving average price is $345.84. The firm has a market capitalization of $86.33 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.27 and a beta of 0.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $426.98.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health's payout ratio is presently 29.26%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 18th. UBS Group boosted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Barclays boosted 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. Leerink Partners set a $364.00 price objective on shares of Elevance Health in a research report on Thursday, April 23rd. Finally, Robert W. Baird boosted their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $416.11.

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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