SVB Wealth LLC Sells 1,381 Shares of Elevance Health, Inc. $ELV

SVB Wealth LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 18.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,057 shares of the company’s stock after selling 1,381 shares during the period. SVB Wealth LLC’s holdings in Elevance Health were worth $2,355,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ELV. Russell Investments Group Ltd. increased its stake in Elevance Health by 20.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 671,321 shares of the company’s stock valued at $261,442,000 after buying an additional 116,000 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its position in shares of Elevance Health by 150.2% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 168,509 shares of the company’s stock worth $65,714,000 after buying an additional 101,158 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Elevance Health by 16.4% in the 3rd quarter. Fifth Third Bancorp now owns 46,558 shares of the company’s stock worth $18,103,000 after buying an additional 6,565 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Elevance Health by 13.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,224 shares of the company’s stock worth $5,142,000 after buying an additional 1,614 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Elevance Health by 33.4% in the 3rd quarter. Ritholtz Wealth Management now owns 3,242 shares of the company’s stock worth $1,260,000 after buying an additional 812 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ELV. Morgan Stanley upped their target price on Elevance Health from $404.00 to $449.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Mizuho set a $490.00 price target on Elevance Health in a report on Friday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research report on Wednesday. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Finally, Wells Fargo & Company upped their price objective on Elevance Health from $473.00 to $492.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $456.48.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the completion of the transaction, the chief financial officer owned 19,919 shares in the company, valued at $8,766,949.47. This trade represents a 34.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ratnakar Lavu sold 1,300 shares of Elevance Health stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $440.00, for a total transaction of $572,000.00. Following the completion of the transaction, the executive vice president owned 14,849 shares of the company’s stock, valued at $6,533,560. The trade was a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.34% of the company’s stock.

Elevance Health Stock Up 0.2%

ELV opened at $430.16 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock has a market cap of $92.94 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.05 and a beta of 0.63. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $450.69. The company’s 50-day moving average price is $415.11 and its two-hundred day moving average price is $374.67.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. The firm had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.03 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 29.15 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $1.72 per share. The ex-dividend date is Friday, December 4th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio is presently 29.34%.

Elevance Health Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.