Elevance Health, Inc. $ELV Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 79,016 shares of the company’s stock after acquiring an additional 3,440 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Elevance Health were worth $27,699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sound View Wealth Advisors Group LLC boosted its position in shares of 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 worth $354,000 after purchasing an additional 29 shares during the period. Fulton Breakefield Broenniman LLC boosted its position in shares of Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after purchasing an additional 29 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after purchasing an additional 29 shares during the period. Savvy Advisors Inc. boosted its position in shares of Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after purchasing an additional 30 shares during the period. Finally, CoreCap Advisors LLC boosted its position in shares of Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock worth $195,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $397.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research report on Tuesday. Mizuho increased their price objective on shares of Elevance Health from $385.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday. Finally, Sanford C. Bernstein increased their price objective on shares of Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $399.32.

Elevance Health Stock Performance

Shares of ELV stock opened at $394.41 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $408.00. The stock has a market capitalization of $85.65 billion, a PE ratio of 16.78, a P/E/G ratio of 2.21 and a beta of 0.66. The firm has a 50 day moving average of $333.81 and a two-hundred day moving average of $336.25.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period last year, the business earned $11.97 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, research analysts predict that Elevance Health, Inc. will post 26.91 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

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.