Chevy Chase Trust Holdings LLC Sells 4,620 Shares of Elevance Health, Inc. $ELV

Chevy Chase Trust Holdings LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,302 shares of the company’s stock after selling 4,620 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Elevance Health worth $37,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ELV. Norges Bank bought a new position in shares of Elevance Health in the second quarter worth $1,148,379,000. Sanders Capital LLC boosted its stake in Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the period. Artisan Partners Limited Partnership boosted its stake in Elevance Health by 24.5% during the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after buying an additional 901,626 shares during the period. First Eagle Investment Management LLC grew its position in Elevance Health by 25.0% during the third quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock worth $1,292,029,000 after buying an additional 798,457 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new position in Elevance Health during the second quarter worth about $293,141,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELV has been the topic of several recent analyst reports. Weiss Ratings cut Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Wolfe Research set a $425.00 price objective on Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Truist Financial decreased their price objective on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. UBS Group set a $400.00 target price on shares of Elevance Health in a research note on Thursday, January 29th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $387.40.

Elevance Health Price Performance

ELV opened at $291.69 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $64.38 billion, a P/E ratio of 11.61, a PEG ratio of 1.61 and a beta of 0.51. The stock has a 50-day moving average price of $338.25 and a 200-day moving average price of $334.45. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.Elevance Health’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. The ex-dividend date is Tuesday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Elevance Health’s dividend payout ratio (DPR) is 27.39%.

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.