Equitable Trust Co. Reduces Position in Elevance Health, Inc. $ELV

Equitable Trust Co. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 73.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,059 shares of the company’s stock after selling 5,790 shares during the quarter. Equitable Trust Co.’s holdings in Elevance Health were worth $603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after acquiring an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Elevance Health by 10.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after purchasing an additional 455,946 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Elevance Health by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after purchasing an additional 24,271 shares during the period. Finally, Invesco Ltd. increased its position in shares of Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after purchasing an additional 1,306,390 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of a number of research reports. Guggenheim raised their price objective on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Cantor Fitzgerald lifted their price target on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada lifted their target price on Elevance Health from $358.00 to $439.00 and gave the company a “sector perform” rating in a research report on Thursday. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $425.95.

Elevance Health Price Performance

NYSE:ELV traded down $3.85 during trading hours on Friday, hitting $416.54. 779,522 shares of the stock traded hands, compared to its average volume of 1,495,521. The company has a market cap of $90.46 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $427.64. The stock has a 50 day moving average price of $397.16 and a 200 day moving average price of $353.48. 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 (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. During the same period last year, the firm earned $11.97 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were issued a dividend of $1.72 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is currently 29.26%.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

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.