SVB Wealth LLC Lowers Position in Elevance Health, Inc. $ELV

SVB Wealth LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 46.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,938 shares of the company’s stock after selling 7,762 shares during the quarter. SVB Wealth LLC’s holdings in Elevance Health were worth $2,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in Elevance Health in the fourth quarter worth about $5,941,000. Victory Capital Management Inc. lifted its holdings in shares of Elevance Health by 31.1% during the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock valued at $149,182,000 after purchasing an additional 109,462 shares during the last quarter. Bright Rock Capital Management LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $7,362,000. Prana Capital Management LP boosted its position in shares of Elevance Health by 798.9% in the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock worth $16,684,000 after purchasing an additional 45,889 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $10,047,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of ELV opened at $394.98 on Tuesday. The company has a market capitalization of $85.77 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $376.85 and a 200 day moving average of $347.48. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.98.

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, topping analysts’ consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s payout ratio is currently 29.26%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ELV. Sanford C. Bernstein raised their price objective on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Jefferies Financial Group dropped their target price on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Bank of America increased their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and raised their price target for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Finally, Citigroup raised Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $416.11.

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.