Fifth Third Bancorp Has $12.66 Million Position in Elevance Health, Inc. $ELV

Fifth Third Bancorp raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 283.7% in the first quarter, HoldingsChannel.com reports. The firm owned 43,244 shares of the company’s stock after buying an additional 31,973 shares during the period. Fifth Third Bancorp’s holdings in Elevance Health were worth $12,660,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Sound View Wealth Advisors Group LLC grew its holdings in shares of Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after buying an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC raised its holdings in shares of Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after acquiring an additional 29 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after acquiring an additional 29 shares in the last quarter. Savvy Advisors Inc. lifted its position in Elevance Health by 3.2% in the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after acquiring an additional 30 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after purchasing an additional 32 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were 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 approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Elevance Health Price Performance

Shares of NYSE ELV opened at $430.21 on Wednesday. The company has a market capitalization of $93.42 billion, a PE ratio of 18.30, a PEG ratio of 2.41 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $399.37 and its 200-day moving average price is $354.74. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 26.86 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s payout ratio is presently 29.26%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ELV shares. Robert W. Baird increased their price objective on Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Barclays lifted their target price on Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Sanford C. Bernstein upped their price target on Elevance Health from $424.00 to $482.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Evercore reissued a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. raised their price objective on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $435.05.

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.