Chevy Chase Trust Holdings LLC Sells 4,620 Shares of Elevance Health, Inc. $ELV

Chevy Chase Trust Holdings LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.9% during the third quarter, Holdings Channel.com reports. The firm owned 115,302 shares of the company’s stock after selling 4,620 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Elevance Health were worth $37,256,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Advisors Capital Management LLC grew its stake in shares of Elevance Health by 15.2% during the second quarter. Advisors Capital Management LLC now owns 1,331 shares of the company’s stock valued at $518,000 after buying an additional 176 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Elevance Health by 4.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,412 shares of the company’s stock valued at $21,553,000 after acquiring an additional 2,374 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Elevance Health by 5.7% in the 2nd quarter. Cetera Investment Advisers now owns 63,434 shares of the company’s stock valued at $24,673,000 after acquiring an additional 3,438 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Elevance Health by 12.3% during the 2nd quarter. Intech Investment Management LLC now owns 27,790 shares of the company’s stock valued at $10,809,000 after acquiring an additional 3,047 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in Elevance Health by 9.4% during the 2nd quarter. Avantax Advisory Services Inc. now owns 19,752 shares of the company’s stock worth $7,683,000 after acquiring an additional 1,694 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Jefferies Financial Group cut their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Mizuho decreased their target price on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Guggenheim lowered their price target on shares of Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Finally, Robert W. Baird increased their price target on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Stock Up 1.3%

Shares of Elevance Health stock opened at $291.69 on Monday. The company has a current ratio of 1.54, a quick 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 $64.38 billion, a P/E ratio of 11.61, a PEG ratio of 1.61 and a beta of 0.51. The company’s fifty day simple moving average is $338.25 and its two-hundred day simple moving average is $334.45.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. During the same period last year, the company posted $3.84 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Research analysts anticipate 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. Shareholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is presently 27.39%.

Elevance Health Company 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.