SouthState Bank Corp Decreases Stock Position in Elevance Health, Inc. $ELV

SouthState Bank Corp cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,480 shares of the company’s stock after selling 1,259 shares during the period. SouthState Bank Corp’s holdings in Elevance Health were worth $12,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Elevance Health in the 4th quarter valued at about $1,058,165,000. Bank of New York Mellon Corp raised its stake in Elevance Health by 79.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after purchasing an additional 1,065,065 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Elevance Health by 24.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after purchasing an additional 901,626 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Elevance Health by 25.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock valued at $1,292,029,000 after purchasing an additional 798,457 shares during the last quarter. Finally, Brave Warrior Advisors LLC raised its stake in Elevance Health by 65.3% in the 3rd quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company’s stock valued at $592,603,000 after purchasing an additional 724,349 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on ELV shares. Jefferies Financial Group cut their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $397.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Evercore reissued a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Bank of America boosted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $411.11.

Elevance Health Price Performance

Elevance Health stock opened at $415.88 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $416.56. The firm has a 50 day moving average price of $354.74 and a 200 day moving average price of $341.76. The company has a market cap of $90.31 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.35 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.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same period in the previous year, the company earned $11.97 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts predict that Elevance Health, Inc. will post 26.94 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio is 29.26%.

Elevance Health 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.