Washington Trust Bank Buys 3,314 Shares of Elevance Health, Inc. $ELV

Washington Trust Bank raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,821 shares of the company’s stock after purchasing an additional 3,314 shares during the quarter. Washington Trust Bank’s holdings in Elevance Health were worth $11,574,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Elevance Health in the second quarter worth about $32,000. Motco boosted its position in Elevance Health by 334.8% during the 3rd quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares in the last quarter. True Wealth Design LLC boosted its position in Elevance Health by 431.8% during the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc grew its holdings in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after acquiring an additional 80 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ELV shares. Truist Financial set a $400.00 target price on Elevance Health in a research note on Tuesday, October 14th. The Goldman Sachs Group initiated coverage on Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price objective for the company. Wolfe Research set a $425.00 price objective on Elevance Health and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $320.00 target price (down previously from $332.00) on shares of Elevance Health in a report on Friday, December 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $400.85.

Elevance Health Trading Down 0.5%

Elevance Health stock opened at $372.80 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market capitalization of $82.85 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 1.92 and a beta of 0.51. The business’s fifty day simple moving average is $338.20 and its two-hundred day simple moving average is $328.30. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.37 EPS. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio is currently 27.96%.

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.