Elevance Health, Inc. $ELV Position Decreased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 68.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,624 shares of the company’s stock after selling 20,512 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Elevance Health were worth $2,817,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Sei Investments Co. lifted its stake in Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after buying an additional 11,745 shares in the last quarter. Glenview Trust co lifted its position in shares of Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after acquiring an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Elevance Health by 6.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after purchasing an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Elevance Health by 5.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after purchasing an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Elevance Health by 111.8% during the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after purchasing an additional 23,180 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s 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 sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $389.29 on Thursday. The firm has a market capitalization of $84.42 billion, a PE ratio of 17.30, a PEG ratio of 2.26 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $399.36 and its 200 day simple moving average is $356.20.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $8.84 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Cowen lifted their target price on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Mizuho boosted their price objective on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Leerink Partners upped their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Finally, Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $440.90.

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.