Nixon Peabody Trust Co. Has $6.88 Million Stock Position in Elevance Health, Inc. $ELV

Nixon Peabody Trust Co. grew its position in Elevance Health, Inc. (NYSE:ELV) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,498 shares of the company’s stock after acquiring an additional 1,608 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Elevance Health were worth $6,879,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the period. Artisan Partners Limited Partnership lifted its position in Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after purchasing an additional 455,946 shares during the period. First Eagle Investment Management LLC boosted its stake in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after buying an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after buying an additional 1,306,390 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho lifted their target price on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Guggenheim upped their target price on shares of Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Evercore reissued a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $419.16.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $416.97 on Friday. The business’s fifty day moving average price is $391.29 and its two-hundred day moving average price is $351.14. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $427.19. The stock has a market capitalization of $90.55 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.37 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48.

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

Elevance Health Dividend Announcement

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

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

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.