Moran Wealth Management LLC Has $11.32 Million Stock Position in Elevance Health, Inc. $ELV

Key Points

• Moran Wealth Management LLC boosted its stake in Elevance Health by 154.8% in Q4, adding 19,625 shares to hold 32,302 shares worth about $11.32 million.
• Elevance reported Q4 EPS of $3.33 (above the $3.10 estimate) with revenue up 9.6% year-over-year, and the company raised its quarterly dividend to $1.72 (annualized $6.88, ~2.1% yield).
• Several analysts have trimmed price targets and the stock has a MarketBeat consensus rating of Hold with a $383.57 target, while institutional investors own roughly 89.24% of the shares.

Moran Wealth Management LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 154.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,302 shares of the company's stock after purchasing an additional 19,625 shares during the quarter. Moran Wealth Management LLC's holdings in Elevance Health were worth $11,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Elevance Health in the 4th quarter valued at approximately $5,941,000. Evergreen Wealth Management LLC boosted its position in Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company's stock worth $5,584,000 after purchasing an additional 4,336 shares during the period. Blume Capital Management Inc. boosted its position in Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company's stock worth $1,986,000 after purchasing an additional 4,320 shares during the period. Canoe Financial LP grew its holdings in Elevance Health by 18.1% during the third quarter. Canoe Financial LP now owns 389,399 shares of the company's stock valued at $125,823,000 after purchasing an additional 59,743 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Elevance Health by 31.1% in the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company's stock valued at $149,182,000 after purchasing an additional 109,462 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ELV shares. Wells Fargo & Company reduced 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 note on Friday, January 30th. Barclays dropped their target price on shares of Elevance Health from $404.00 to $393.00 and set an "overweight" rating on the stock in a report on Friday, January 30th. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the stock an "outperform" rating in a research report on Thursday, January 8th. Guggenheim decreased their price target on shares of Elevance Health from $414.00 to $396.00 and set a "buy" rating for the company in a report on Thursday, January 29th. Finally, Robert W. Baird lowered their price target on Elevance Health from $340.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $383.57.

Elevance Health Stock Up 2.3%

Shares of ELV opened at $323.02 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The company has a 50-day simple moving average of $308.99 and a 200-day simple moving average of $331.85. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $432.93. The firm has a market capitalization of $70.95 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.74 and a beta of 0.49.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results 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. The business had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th were given a dividend of $1.72 per share. This is a boost from Elevance Health's previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, March 10th. Elevance Health's dividend payout ratio (DPR) is presently 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.

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.