Elevance Health, Inc. $ELV Shares Sold by State Street Corp

State Street Corp reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 0.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,341,466 shares of the company’s stock after selling 4,703 shares during the quarter. State Street Corp’s holdings in Elevance Health were worth $3,625,201,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in Elevance Health during the 4th quarter worth approximately $5,941,000. Victory Capital Management Inc. increased its position in shares of Elevance Health by 31.1% in the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock valued at $149,182,000 after purchasing an additional 109,462 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $1,638,000. Bright Rock Capital Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $7,362,000. Finally, Prana Capital Management LP increased its position in shares of Elevance Health by 798.9% in the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock valued at $16,684,000 after purchasing an additional 45,889 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 1.1%

NYSE ELV opened at $403.74 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The firm’s fifty day moving average price is $366.62 and its 200 day moving average price is $344.86. The company has a market capitalization of $87.68 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $426.98.

Elevance Health (NYSE:ELV) last posted its 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 firm had revenue of $49.49 billion for 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 company’s 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. On average, sell-side analysts expect that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business 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 $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELV. Citigroup raised shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Robert W. Baird increased their price objective 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. Sanford C. Bernstein increased their price objective on shares of Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. UBS Group increased their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Morgan Stanley increased their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $416.11.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on 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 $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

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.