Elevance Health, Inc. $ELV Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 16.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,438 shares of the company’s stock after selling 1,500 shares during the period. SVB Wealth LLC’s holdings in Elevance Health were worth $2,876,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in shares of Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after purchasing an additional 11,745 shares in the last quarter. Glenview Trust co increased its holdings in Elevance Health by 41.5% in the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after buying an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Elevance Health by 6.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after buying an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Elevance Health by 5.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after buying an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Elevance Health by 111.8% during the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after buying an additional 23,180 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, Director Robert Dixon, Jr. sold 151 shares of the stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ELV. UBS Group raised their price objective on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a report on Tuesday, July 7th. Morgan Stanley lifted their price target on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Royal Bank Of Canada lowered their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Down 1.3%

Elevance Health stock opened at $402.04 on Wednesday. The company has a 50-day simple moving average of $397.41 and a 200-day simple moving average of $365.53. The firm has a market capitalization of $87.19 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.12 and a beta of 0.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $8.84 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s payout ratio is currently 30.58%.

Elevance Health Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.