HB Wealth Management LLC Lowers Position in Elevance Health, Inc. $ELV

HB Wealth Management LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,728 shares of the company’s stock after selling 4,569 shares during the quarter. HB Wealth Management LLC’s holdings in Elevance Health were worth $6,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $32,000. ORG Partners LLC grew its stake in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Elevance Health in the fourth quarter worth $38,000. Finally, Dorato Capital Management bought a new position in Elevance Health in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s 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 sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Elevance Health Stock Down 0.2%

Shares of NYSE:ELV opened at $416.97 on Friday. The stock has a fifty day simple moving average of $391.29 and a two-hundred day simple moving average of $351.14. The stock has a market capitalization of $90.55 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.37 and a beta of 0.67. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $427.19. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70.

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

Elevance Health Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELV shares. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group reduced their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Bank of America increased their price target 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. Truist Financial lifted their price target on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, Evercore reissued a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $419.16.

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.