Morningstar Investment Management LLC Cuts Stake in Elevance Health, Inc. $ELV

Key Points

• Morningstar Investment Management sharply cut its Elevance Health stake by 94.2% in the fourth quarter, leaving it with 675 shares valued at about $237,000.
• Elevance Health reported better-than-expected quarterly results, with EPS of $12.58 versus estimates of $10.74 and revenue of $49.49 billion, topping forecasts.
• The company also announced a quarterly dividend of $1.72 per share, and Wall Street sentiment remains positive with a Moderate Buy consensus and average price target of $399.32.

Morningstar Investment Management LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 94.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 675 shares of the company's stock after selling 10,889 shares during the quarter. Morningstar Investment Management LLC's holdings in Elevance Health were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Artisan Partners Limited Partnership boosted its holdings in shares of Elevance Health by 24.5% in 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. First Eagle Investment Management LLC boosted its holdings in shares of Elevance Health by 25.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company's stock worth $1,292,029,000 after buying an additional 798,457 shares during the last quarter. Brave Warrior Advisors LLC boosted its holdings in shares of Elevance Health by 65.3% in the 3rd quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company's stock worth $592,603,000 after buying an additional 724,349 shares during the last quarter. Baupost Group LLC MA boosted its holdings in shares of Elevance Health by 114.1% in the 3rd quarter. Baupost Group LLC MA now owns 1,319,000 shares of the company's stock worth $426,195,000 after buying an additional 703,000 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Elevance Health by 44.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,045,480 shares of the company's stock worth $660,935,000 after buying an additional 627,038 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.1%

Shares of Elevance Health stock opened at $394.41 on Tuesday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $408.00. The stock's 50-day simple moving average is $335.93 and its 200 day simple moving average is $336.96. The stock has a market capitalization of $85.65 billion, a P/E ratio of 16.78, a P/E/G ratio of 2.23 and a beta of 0.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business had revenue of $49.49 billion for the quarter, compared to analysts' expectations of $48.21 billion. During the same period in the previous year, the business posted $11.97 EPS. The firm'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. As a group, research analysts anticipate that Elevance Health, Inc. will post 26.91 EPS for the current year.

Elevance Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price target on shares of Elevance Health from $384.00 to $424.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Bank of America raised shares of Elevance Health from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $435.00 in a report on Wednesday, April 29th. Robert W. Baird boosted their price target on shares of Elevance Health from $317.00 to $331.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Evercore restated a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. Finally, Guggenheim boosted their price objective on Elevance Health from $396.00 to $399.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $399.32.

Elevance Health Company 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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