State Street Corp Cuts Stake in Elevance Health, Inc. $ELV

State Street Corp lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,341,466 shares of the company’s stock after selling 4,703 shares during the period. State Street Corp owned about 4.69% of Elevance Health worth $3,625,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth about $5,941,000. Victory Capital Management Inc. grew its stake in Elevance Health by 31.1% during the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock valued at $149,182,000 after acquiring an additional 109,462 shares in the last quarter. Caprock Group LLC purchased a new stake in Elevance Health during the 3rd quarter valued at about $1,638,000. Bright Rock Capital Management LLC purchased a new stake in Elevance Health during the 4th quarter valued at about $7,362,000. Finally, Prana Capital Management LP grew its stake in Elevance Health by 798.9% during the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock valued at $16,684,000 after acquiring an additional 45,889 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

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 has a market capitalization of $87.68 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.26 and a beta of 0.67. The company’s 50-day moving average is $366.62 and its two-hundred day moving average is $344.86. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $426.98.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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 net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the prior year, the business posted $11.97 EPS. The business’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. Analysts forecast that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s dividend payout ratio is currently 29.26%.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. UBS Group upped their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Barclays upped their price objective on shares of Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Sanford C. Bernstein upped their price objective on shares of Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Elevance Health currently 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.