VCI Wealth Management LLC Buys New Shares in Elevance Health, Inc. $ELV

VCI Wealth Management LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 9,305 shares of the company’s stock, valued at approximately $3,262,000. Elevance Health accounts for 0.9% of VCI Wealth Management LLC’s portfolio, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Sound View Wealth Advisors Group LLC boosted its holdings in Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC lifted its position in Elevance Health by 3.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after purchasing an additional 29 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Elevance Health by 2.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after purchasing an additional 29 shares during the last quarter. Savvy Advisors Inc. boosted its stake in shares of Elevance Health by 3.2% during the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares during the period. Finally, HBK Sorce Advisory LLC grew its holdings in shares of Elevance Health by 4.4% in the third quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after purchasing an additional 31 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ELV shares. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Leerink Partners boosted their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Barclays lowered their price objective on shares of Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Royal Bank Of Canada lowered shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price for the company. in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $383.57.

Elevance Health Stock Up 2.3%

ELV traded up $7.20 on Friday, hitting $323.02. The company had a trading volume of 1,336,011 shares, compared to its average volume of 1,491,639. 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 52-week low of $273.71 and a 52-week high of $432.93. The stock has a fifty day simple moving average of $308.99 and a 200-day simple moving average of $331.91. 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) last posted 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. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the prior year, the business earned $3.84 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, March 10th. Elevance Health’s dividend payout ratio is currently 27.39%.

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.