Fifth Third Bancorp Sells 7,362 Shares of Elevance Health, Inc. $ELV

Fifth Third Bancorp lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 38.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,574 shares of the company’s stock after selling 7,362 shares during the period. Fifth Third Bancorp’s holdings in Elevance Health were worth $3,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its position in shares of Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Activest Wealth Management grew its stake in Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after buying an additional 34 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Elevance Health during the 2nd quarter valued at $32,000. Finally, Motco lifted its holdings in shares of Elevance Health by 334.8% during the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.4%

Shares of ELV opened at $346.31 on Thursday. The stock has a market capitalization of $76.43 billion, a P/E ratio of 13.79, a PEG ratio of 1.92 and a beta of 0.50. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $352.94 and a two-hundred day simple moving average of $333.33.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.23. The company had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is presently 27.23%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELV. Weiss Ratings downgraded Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 2nd. Guggenheim dropped their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Royal Bank Of Canada downgraded shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target on the stock. in a research note on Tuesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $332.00 price objective on shares of Elevance Health in a research note on Thursday, January 29th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $390.55.

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.