Sterling Capital Management LLC Sells 70,173 Shares of Elevance Health, Inc. $ELV

Sterling Capital Management LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 66.1% in the first quarter, HoldingsChannel.com reports. The firm owned 35,934 shares of the company’s stock after selling 70,173 shares during the period. Sterling Capital Management LLC’s holdings in Elevance Health were worth $10,520,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ELV. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Elevance Health in the 4th quarter worth about $5,941,000. Victory Capital Management Inc. boosted its stake in Elevance Health by 31.1% during the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock valued at $149,182,000 after purchasing an additional 109,462 shares during the last quarter. Bright Rock Capital Management LLC acquired a new position in Elevance Health during the 4th quarter valued at about $7,362,000. Prana Capital Management LP increased its holdings in Elevance Health by 798.9% during the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock worth $16,684,000 after purchasing an additional 45,889 shares in the last quarter. Finally, Loews Corp increased its holdings in Elevance Health by 107.5% during the 3rd quarter. Loews Corp now owns 110,000 shares of the company’s stock worth $35,543,000 after purchasing an additional 57,000 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Jefferies Financial Group dropped their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Barclays lifted their price objective on shares of Elevance Health from $408.00 to $480.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Bank of America increased their target price on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Citigroup raised shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $416.11.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $394.86 on Friday. The company has a market capitalization of $85.75 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67. The company’s 50-day moving average is $383.03 and its 200 day moving average is $349.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98.

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 business 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 firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 26.92 earnings per share for the current year.

Elevance Health Dividend Announcement

The business 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. The ex-dividend date was Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Elevance Health Company Profile

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.