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

Smithbridge Asset Management Inc. DE lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 53.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

ELV has been the topic of several research reports. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Barclays increased their price objective on Elevance Health from $408.00 to $480.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Bank of America upped their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Leerink Partners set a $364.00 price target on shares of Elevance Health in a research note on Thursday, April 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $419.16.

Elevance Health Stock Performance

Elevance Health stock opened at $416.97 on Friday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $427.19. 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 market capitalization of $90.55 billion, a P/E ratio of 17.74, a PEG ratio of 2.36 and a beta of 0.67. The stock’s 50 day moving average is $389.48 and its 200 day moving average is $350.67.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (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 analysts’ expectations of $48.21 billion. During the same quarter in the previous year, the business earned $11.97 earnings per share. The firm’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. On average, equities research analysts predict that Elevance Health, Inc. will post 26.86 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued 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 1.6%. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health 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.