Smith Salley Wealth Management Purchases 1,419 Shares of Elevance Health, Inc. $ELV

Smith Salley Wealth Management lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,514 shares of the company’s stock after purchasing an additional 1,419 shares during the quarter. Smith Salley Wealth Management’s holdings in Elevance Health were worth $11,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP lifted its position in 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 purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after buying an additional 1,607,274 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Elevance Health by 10.0% in 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 buying an additional 455,946 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 0.6% in 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 buying an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings 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 worth $1,368,505,000 after acquiring an additional 1,306,390 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.1%

Shares of NYSE:ELV opened at $388.77 on Monday. The company has a market capitalization of $84.43 billion, a PE ratio of 16.54, a P/E/G ratio of 2.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The company’s fifty day moving average is $375.30 and its 200-day moving average is $347.03. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $426.98.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts predict that Elevance Health, Inc. will post 26.93 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 issued a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s 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 transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. The Goldman Sachs Group lifted their price objective on Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Citigroup upgraded Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $416.11.

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.