Bank of Nova Scotia Adds $41M in Elevance Health, Inc. ($ELV)
The bank added 104,212 shares of Elevance Health, now holding 237,998 shares worth $93.7 million.
Key Points
- Bank of Nova Scotia boosted its position in Elevance Health by 77.9%, adding 104,212 shares for a total of 237,998 shares valued at $93.7 million.
- Elevance Health, trading at $393.88 per share, has a market cap of $85.7 billion and a forward P/E of 13.5.
- Analysts from firms like Mizuho and JP Morgan maintain 'buy' ratings with price targets ranging from $404 to $480.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
Bank of Nova Scotia has significantly increased its holding in Elevance Health, Inc. (NYSE:ELV), adding 104,212 shares as of its latest 13F filing with the SEC. This move brings its total stake to 237,998 shares, marking a 77.9% increase from its previous position. The total value of these holdings is approximately $93.7 million.
Bank of Nova Scotia vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
What Changed in Bank of Nova Scotia's Elevance Health Position
Bank of Nova Scotia's decision to boost its stake in Elevance Health by 104,212 shares signifies a 77.9% increase from its previous holding of 133,786 shares. The total number of shares now stands at 237,998, reflecting confidence in the company's future prospects. The value of this position is approximately $93.7 million.
Other Institutional Activity in Elevance Health
Other major institutional investors also adjusted their stakes in Elevance Health. BlackRock, Inc. reduced its holdings by 515,523 shares, resulting in a total of 19,887,111 shares valued at about $5.82 billion. Vanguard Capital Management LLC opened a new position with 14,345,459 shares, worth approximately $4.20 billion. State Street Corp decreased its position slightly by 52,770 shares, ending with 10,288,696 shares valued at $3.01 billion. Wellington Management Group LLP also trimmed its holdings by 61,439 shares, leaving it with 8,228,537 shares valued at $2.41 billion.
Elevance Health, Inc. Stock Down 0.3%
As of Thursday, shares of Elevance Health traded near $393.88. The company, with a market cap of $85.7 billion, has a P/E ratio of 16.7 and a forward P/E of 13.5. Its beta is 0.682, indicating lower volatility compared to the market. The stock's 52-week range is between $273.71 and $426.98, with a 50-day moving average of $374.60 and a 200-day moving average of $341.19.
$ELV stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Elevance Health reported revenue of $200.4 billion with a growth rate of 2.6%. The company's earnings per share (EPS) stands at $23.58, with a net margin of 2.62% and a return on equity (ROE) of 12.1%. The next earnings report is expected on July 16, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
-
Forward outlook
9 target raises vs 1 cuts.
-
EPS & revenue
EPS beat estimates by 15.1%. Revenue beat estimates by 3.1%.
-
Profit surprise
EBITDA missed by 25 percent. Operating income missed by 25 percent.
-
Pre-earnings setup
Expectations were about average.
-
Analyst signal
2 upgrades, 9 target raises, 1 target cut.
-
Earnings quality
Gross margin down 9.6 points. Operating margin down 1.1 points. Positive free cash flow.
Earnings Call Summary
Elevance Health delivered stronger than expected first quarter results with earnings per share of $12.58 beating the $10.68 consensus. Revenue came in at $50.2 billion, above the $48.7 billion expected. The company is executing on cost management initiatives in Medicaid and Medicare, with favorable claims experience and improved performance from AI and care delivery programs through Carelon. Management highlighted strong commercial selling momentum for 2027 with record pipelines and employer focus on affordability.
Guidance Management raised full year adjusted earnings guidance to at least $26.75 per share. They expect 2027 earnings to grow at least 12 percent from a revised 2026 baseline of $25.75. The company is confident in this outlook based on improving cost trend management and better than expected first quarter performance.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Elevance Health pays an annual dividend of $6.88 per share, yielding 1.77% with a payout ratio of 29.03%.
Insider Buying and Selling at Elevance Health, Inc.
Several insider transactions have taken place at Elevance Health. On June 12, 2026, Ronald Penczek, CAO & Controller, sold 369 shares at an average price of $403.16. On June 11, 2026, Robert Dixon Jr. sold 151 shares at $401.77. Earlier, on May 19, 2026, Ronald Penczek both bought and sold 1,531 shares, with one transaction at $403.13 and another at $294.30.
Analysts Set New Price Targets
Analysts maintain positive views on Elevance Health. On June 8, 2026, both Mizuho and JP Morgan maintained their 'buy' ratings with price targets of $465 and $476, respectively. B of A Securities, on June 4, 2026, also maintained a 'buy' rating with a target of $460. The consensus among 21 analysts is a 'buy' recommendation with a mean target price of $415.81.
About Elevance Health
Elevance Health, Inc. operates as a health benefits company based in Indianapolis, Indiana. It provides a variety of health plans and services across its four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. The company serves individuals and groups through its Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon brands. Under the leadership of CEO Gail Koziara Boudreaux, Elevance Health employs over 96,000 people.
Bottom Line
Bank of Nova Scotia's increased stake in Elevance Health reflects its confidence in the company's growth potential. Investors follow these 13F filings closely to gauge institutional sentiment, although they reflect past positions. Elevance Health remains a key player in the healthcare sector, with analysts maintaining favorable ratings and price targets.
Get Elevance Health, Inc. alerts
New 13F filings, insider trades, and analyst moves on $ELV, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.