Elevance Health, Inc. $ELV Shares Sold by Vancity Investment Management Ltd

Vancity Investment Management Ltd lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 38,269 shares of the company’s stock after selling 1,851 shares during the period. Elevance Health accounts for 1.8% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 22nd largest holding. Vancity Investment Management Ltd’s holdings in Elevance Health were worth $13,415,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ELV. Sound View Wealth Advisors Group LLC lifted its position in 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 worth $354,000 after buying an additional 29 shares during the period. Fulton Breakefield Broenniman LLC grew its holdings in Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after buying an additional 29 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Elevance Health by 2.2% during 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 during the last quarter. Savvy Advisors Inc. increased its stake in shares of Elevance Health by 3.2% during 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 during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in shares of Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock worth $195,000 after acquiring an additional 32 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.6%

NYSE ELV opened at $388.77 on Friday. The firm has a market capitalization of $84.43 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.21 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, Inc. has a one year low of $273.71 and a one year high of $426.98. The company’s 50 day moving average price is $373.89 and its 200 day moving average price is $346.61.

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. 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 the consensus estimate of $48.21 billion. During the same period in the previous year, the firm earned $11.97 earnings per share. Elevance Health’s revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared 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 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio is 29.26%.

Insider Transactions 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 stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Mizuho increased their price target on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Bank of America lifted their price target on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Morgan Stanley boosted 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 note on Thursday, June 4th. Finally, Jefferies Financial Group dropped their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday, April 20th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.