Elevance Health, Inc. $ELV Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 36.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 602,920 shares of the company’s stock after selling 346,080 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Elevance Health were worth $176,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. acquired a new position in Elevance Health during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health in the fourth quarter worth about $32,000. ORG Partners LLC grew its stake in shares of Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the last quarter. Dorato Capital Management acquired a new position in shares of Elevance Health during the fourth quarter valued at about $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elevance Health during the fourth quarter valued at about $38,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ELV. Bank of America lifted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Cantor Fitzgerald raised their price target on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Finally, Leerink Partners set a $364.00 price objective on shares of Elevance Health in a report on Thursday, April 23rd. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $425.95.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Trading Up 0.9%

NYSE ELV opened at $419.89 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $427.64. 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 company has a market capitalization of $91.18 billion, a PE ratio of 17.86, a P/E/G ratio of 2.36 and a beta of 0.67. The company has a fifty day moving average of $396.36 and a 200 day moving average of $353.04.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion for 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%.The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts forecast that Elevance Health, Inc. will post 26.86 earnings per share for the current year.

Elevance Health Dividend Announcement

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

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.