Smithbridge Asset Management Inc. DE Sells 1,292 Shares of Elevance Health, Inc. $ELV

Smithbridge Asset Management Inc. DE cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 53.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,125 shares of the company’s stock after selling 1,292 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Elevance Health were worth $329,000 at the end of the most recent quarter.

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

Elevance Health Stock Up 0.2%

NYSE ELV opened at $416.97 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $427.19. The stock has a market capitalization of $90.55 billion, a PE ratio of 17.74, a PEG ratio of 2.36 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50-day moving average is $389.48 and its 200 day moving average is $350.67.

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

Elevance Health Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s payout ratio is 29.26%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ELV. Robert W. Baird increased their target price on Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. The Goldman Sachs Group lifted their price target on Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. UBS Group increased their price objective on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Citigroup upgraded shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $419.16.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’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 completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is currently 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.