TD Asset Management Inc Trims Stock Position in Elevance Health, Inc. $ELV

TD Asset Management Inc trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 163,293 shares of the company’s stock after selling 11,285 shares during the quarter. TD Asset Management Inc’s holdings in Elevance Health were worth $57,242,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ELV. Rossby Financial LCC raised its holdings in shares of Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares during the period. ORG Partners LLC grew its stake in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after buying an additional 59 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $38,000. Dorato Capital Management acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $41,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Price Performance

ELV stock opened at $415.88 on Friday. The company has a market capitalization of $90.31 billion, a PE ratio of 17.69, a P/E/G ratio of 2.32 and a beta of 0.67. The stock’s 50 day moving average is $354.74 and its two-hundred day moving average is $341.76. 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 $416.56.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate 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 firm earned $11.97 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts predict that Elevance Health, Inc. will post 26.94 earnings per share 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 paid 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 of this dividend is Wednesday, June 10th. Elevance Health’s payout ratio is currently 29.26%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ELV. Evercore reiterated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. UBS Group increased their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Leerink Partners set a $364.00 target price on Elevance Health in a research note on Thursday, April 23rd. Jefferies Financial Group cut their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, The Goldman Sachs Group raised their price objective on Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $411.11.

Elevance Health 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.