Pinkerton Wealth LLC Purchases 4,005 Shares of Elevance Health, Inc. $ELV

Key Points

• Pinkerton Wealth LLC boosted its stake in Elevance Health by 53.8% in Q3, adding 4,005 shares to hold 11,444 shares valued at about $3.70 million, while institutional investors now own 89.24% of the company and several other funds (e.g., Canoe, Synergy, Delta) also materially increased or opened positions.
• Elevance beat Q3 EPS estimates ($3.33 vs. $3.10) with revenue up 9.6% year-over-year, raised its quarterly dividend to $1.72 (2.5% yield), and carries a consensus analyst rating of "Moderate Buy" with an average price target of $390.55 amid mixed price-target revisions as the stock trades down roughly 3.1%.

Pinkerton Wealth LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 53.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,444 shares of the company's stock after buying an additional 4,005 shares during the quarter. Pinkerton Wealth LLC's holdings in Elevance Health were worth $3,698,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Evergreen Wealth Management LLC increased its holdings in shares of 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 stake in shares of Elevance Health by 236.7% in the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company's stock valued at $1,986,000 after buying an additional 4,320 shares during the period. Canoe Financial LP grew its position in Elevance Health by 18.1% during the third quarter. Canoe Financial LP now owns 389,399 shares of the company's stock worth $125,823,000 after buying an additional 59,743 shares in the last quarter. Synergy Asset Management LLC grew its position in Elevance Health by 100.0% during the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company's stock worth $33,712,000 after buying an additional 52,167 shares in the last quarter. Finally, Delta Investment Management LLC bought a new position in Elevance Health during the 3rd quarter worth $7,629,000. Institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ELV. Sanford C. Bernstein cut their target price on Elevance Health from $431.00 to $409.00 and set an "outperform" rating for the company in a research report on Friday, January 30th. JPMorgan Chase & Co. raised their price target on Elevance Health from $394.00 to $397.00 and gave the stock an "overweight" rating in a research report on Monday, February 2nd. Royal Bank Of Canada downgraded Elevance Health from an "outperform" rating to a "sector perform" rating and set a $358.00 price target for the company. in a research note on Tuesday, February 3rd. Truist Financial cut their price objective on shares of Elevance Health from $400.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 2nd. Finally, Robert W. Baird increased their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the stock a "neutral" rating in a research note on Thursday, December 11th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $390.55.

Elevance Health Trading Down 3.1%

Shares of ELV stock opened at $280.80 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The stock's fifty day moving average price is $343.29 and its two-hundred day moving average price is $335.14. 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 market cap of $61.98 billion, a PE ratio of 11.18, a P/E/G ratio of 1.60 and a beta of 0.51.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.23. The company had revenue of $49.31 billion during the quarter, compared to analysts' expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.Elevance Health's revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. 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 yield of 2.5%. Elevance Health's payout ratio is presently 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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