Smith Salley Wealth Management Has $11.57 Million Stock Holdings in Elevance Health, Inc. $ELV

Smith Salley Wealth Management lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,514 shares of the company’s stock after buying an additional 1,419 shares during the quarter. Smith Salley Wealth Management’s holdings in Elevance Health were worth $11,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sound View Wealth Advisors Group LLC grew its holdings in Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after acquiring an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC raised its stake in shares of Elevance Health by 3.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after acquiring an additional 29 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after purchasing an additional 29 shares in the last quarter. Savvy Advisors Inc. lifted its position in shares of Elevance Health by 3.2% during the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after purchasing an additional 30 shares in the last quarter. Finally, CoreCap Advisors LLC grew its stake in shares of Elevance Health by 6.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho raised their price target on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Jefferies Financial Group reduced their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Sanford C. Bernstein increased their price objective on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Robert W. Baird lifted their target price on Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $416.11.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $388.77 on Monday. The firm has a market capitalization of $84.43 billion, a P/E ratio of 16.54, a PEG ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $426.98. The business has a 50-day moving average of $375.30 and a 200-day moving average of $347.03. 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 announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. During the same period last year, the company posted $11.97 EPS. Elevance Health’s revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio is presently 29.26%.

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.