Sterling Capital Management LLC Has $10.52 Million Position in Elevance Health, Inc. $ELV

Sterling Capital Management LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 66.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,934 shares of the company’s stock after selling 70,173 shares during the quarter. Sterling Capital Management LLC’s holdings in Elevance Health were worth $10,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. bought a new stake in shares of Elevance Health in the 4th quarter valued at about $5,941,000. Victory Capital Management Inc. raised its position in shares of Elevance Health by 31.1% during the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock worth $149,182,000 after acquiring an additional 109,462 shares during the last quarter. Bright Rock Capital Management LLC bought a new position in shares of Elevance Health during the fourth quarter worth about $7,362,000. Prana Capital Management LP lifted its stake in shares of Elevance Health by 798.9% in the third quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock worth $16,684,000 after acquiring an additional 45,889 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Elevance Health in the third quarter worth approximately $10,047,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $394.86 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $426.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The business’s 50 day moving average price is $383.03 and its two-hundred day moving average price is $349.01. The firm has a market cap of $85.75 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion during 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 company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 26.92 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Mizuho boosted their price target on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Truist Financial upped their price objective on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $416.11.

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.