Argent Trust Co Has $4.97 Million Stock Position in Elevance Health, Inc. $ELV

Argent Trust Co reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 16.7% in the 3rd quarter, Holdings Channel reports. The fund owned 15,387 shares of the company’s stock after selling 3,093 shares during the period. Argent Trust Co’s holdings in Elevance Health were worth $4,972,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Physician Wealth Advisors Inc. lifted 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 in the last quarter. Activest Wealth Management increased its stake in Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 34 shares during the period. Rossby Financial LCC lifted its position in Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after buying an additional 44 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Elevance Health during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ELV. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Barclays dropped their target price on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Morgan Stanley reduced their price target on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Weiss Ratings cut Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada lowered shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective on the stock. in a research report on Tuesday, February 3rd. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $390.55.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $320.65 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $350.23 and a 200-day simple moving average of $335.40. The stock has a market capitalization of $70.77 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.79 and a beta of 0.50. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio is currently 27.23%.

Elevance Health 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.