Vestcor Inc Buys 10,186 Shares of Elevance Health, Inc. $ELV

Key Points

• Vestcor Inc increased its stake in Elevance Health by 29.8%, purchasing 10,186 shares to hold 44,360 shares valued at about $14.33 million; institutional investors own roughly 89.24% of ELV.
• Elevance Health beat quarterly EPS estimates with $3.33 vs. $3.10 and reported revenue of $49.31 billion (up 9.6% YoY but slightly below estimates), while analysts place the stock at a "Moderate Buy" with an average target near $390.55.
• Dividend update: Elevance raised its quarterly dividend to $1.72 (annualized $6.88) for a ~2.4% yield, payable March 25 with a record date of March 10.

Vestcor Inc grew its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 29.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,360 shares of the company's stock after purchasing an additional 10,186 shares during the period. Vestcor Inc's holdings in Elevance Health were worth $14,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nilsine Partners LLC boosted its position in Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company's stock valued at $620,000 after buying an additional 29 shares in the last quarter. HBK Sorce Advisory LLC grew its position in Elevance Health by 4.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company's stock worth $260,000 after acquiring an additional 31 shares during the last quarter. Detalus Advisors LLC grew its position in Elevance Health by 1.8% during the 3rd quarter. Detalus Advisors LLC now owns 1,726 shares of the company's stock worth $558,000 after acquiring an additional 31 shares during the last quarter. Forum Financial Management LP increased its holdings in Elevance Health by 1.1% in the 3rd quarter. Forum Financial Management LP now owns 2,971 shares of the company's stock worth $960,000 after purchasing an additional 33 shares in the last quarter. Finally, Activest Wealth Management raised its position in Elevance Health by 66.7% in the third quarter. Activest Wealth Management now owns 85 shares of the company's stock valued at $27,000 after purchasing an additional 34 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV stock opened at $289.56 on Monday. The stock has a market capitalization of $63.91 billion, a PE ratio of 11.53, a PEG ratio of 1.60 and a beta of 0.51. The business's 50 day simple moving average is $344.64 and its 200 day simple moving average is $335.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

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

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase from Elevance Health's previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health's payout ratio is currently 27.23%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent research reports. Truist Financial cut their price target on Elevance Health from $400.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 2nd. Sanford C. Bernstein dropped their price objective on shares of Elevance Health from $431.00 to $409.00 and set an "outperform" rating for the company in a report on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Elevance Health from $394.00 to $397.00 and gave the stock an "overweight" rating in a research report on Monday, February 2nd. Guggenheim reduced their target price on shares of Elevance Health from $414.00 to $396.00 and set a "buy" rating on the stock in a report on Thursday, January 29th. Finally, TD Cowen restated a "buy" rating on shares of Elevance Health in a research report on Wednesday, November 26th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $390.55.

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.

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