HB Wealth Management LLC Cuts Holdings in Elevance Health, Inc. $ELV

HB Wealth Management LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 18.1% in the first quarter, Holdings Channel reports. The firm owned 20,728 shares of the company’s stock after selling 4,569 shares during the quarter. HB Wealth Management LLC’s holdings in Elevance Health were worth $6,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELV. Wellington Management Group LLP boosted its position in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after buying an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after buying an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Elevance Health by 10.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after acquiring an additional 455,946 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Elevance Health by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after acquiring an additional 24,271 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after acquiring an additional 1,306,390 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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 report on Monday, June 8th. Leerink Partners set a $364.00 target price on shares of Elevance Health in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Guggenheim lifted their target price on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Bank of America boosted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $419.16.

Elevance Health Price Performance

NYSE ELV opened at $416.97 on Friday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $427.19. The firm has a market capitalization of $90.55 billion, a P/E ratio of 17.74, a PEG ratio of 2.37 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $391.29 and a 200-day moving average price of $351.14.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 26.86 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 29.26%.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of 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 legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by corporate insiders.

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.