SouthState Bank Corp Sells 2,013 Shares of Elevance Health, Inc. $ELV

SouthState Bank Corp cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,467 shares of the company’s stock after selling 2,013 shares during the period. SouthState Bank Corp’s holdings in Elevance Health were worth $9,505,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ELV. Sound View Wealth Advisors Group LLC grew its stake in shares of Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after acquiring an additional 29 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its stake 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 last quarter. Perigon Wealth Management LLC raised its stake in shares of 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 buying an additional 29 shares during the period. Savvy Advisors Inc. raised its stake in Elevance Health by 3.2% in the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after acquiring an additional 30 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in shares of Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after buying an additional 32 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.2%

NYSE:ELV opened at $430.21 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The company’s 50-day simple moving average is $399.37 and its 200 day simple moving average is $354.74. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $436.24. The firm has a market capitalization of $93.42 billion, a P/E ratio of 18.30, a PEG ratio of 2.41 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted 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 return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same quarter last year, the company earned $11.97 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued a dividend of $1.72 per share. The ex-dividend date was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio is presently 29.26%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein boosted their price objective on Elevance Health from $424.00 to $482.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Morgan Stanley lifted their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Truist Financial boosted their target price on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Finally, Jefferies Financial Group dropped their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $435.05.

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.