Elevance Health, Inc. $ELV Shares Sold by Argent Trust Co

Argent Trust Co decreased its position in Elevance Health, Inc. (NYSE:ELV) by 16.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,387 shares of the company’s stock after selling 3,093 shares during the period. Argent Trust Co’s holdings in Elevance Health were worth $4,972,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Quantbot Technologies LP bought a new position in Elevance Health in the 3rd quarter worth approximately $6,015,000. Power Wealth Management LLC boosted its position in Elevance Health by 24.1% during the 3rd quarter. Power Wealth Management LLC now owns 5,011 shares of the company’s stock worth $1,619,000 after acquiring an additional 974 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Elevance Health by 1.8% in the third quarter. Handelsbanken Fonder AB now owns 74,436 shares of the company’s stock worth $24,052,000 after purchasing an additional 1,297 shares in the last quarter. Banco Santander S.A. increased its holdings in shares of Elevance Health by 8.7% during the third quarter. Banco Santander S.A. now owns 9,012 shares of the company’s stock valued at $2,912,000 after purchasing an additional 723 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Elevance Health during the third quarter valued at about $374,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Guggenheim decreased their target price on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Robert W. Baird increased their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Morgan Stanley lowered their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. JPMorgan Chase & Co. upped their target price on Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Leerink Partners lifted their price target on Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Trading Down 0.7%

Shares of NYSE ELV opened at $320.65 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market cap of $70.77 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.79 and a beta of 0.50. The business has a fifty day simple moving average of $350.23 and a 200-day simple moving average of $335.40.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the previous year, the company earned $3.84 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio (DPR) is 27.23%.

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.