Elevance Health, Inc. $ELV Holdings Decreased by SVB Wealth LLC

SVB Wealth LLC trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,057 shares of the company’s stock after selling 1,381 shares during the quarter. SVB Wealth LLC’s holdings in Elevance Health were worth $2,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Elevance Health by 20.9% in the third quarter. Russell Investments Group Ltd. now owns 671,321 shares of the company’s stock worth $261,442,000 after buying an additional 116,000 shares in the last quarter. Eurizon Capital SGR S.p.A. boosted its position in shares of Elevance Health by 150.2% in the third quarter. Eurizon Capital SGR S.p.A. now owns 168,509 shares of the company’s stock valued at $65,714,000 after acquiring an additional 101,158 shares during the period. Fifth Third Bancorp grew its stake in Elevance Health by 16.4% during the third quarter. Fifth Third Bancorp now owns 46,558 shares of the company’s stock valued at $18,103,000 after acquiring an additional 6,565 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Elevance Health by 13.9% during the third quarter. Maryland State Retirement & Pension System now owns 13,224 shares of the company’s stock valued at $5,142,000 after acquiring an additional 1,614 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Elevance Health by 33.4% during the 3rd quarter. Ritholtz Wealth Management now owns 3,242 shares of the company’s stock worth $1,260,000 after acquiring an additional 812 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho set a $490.00 target price on shares of Elevance Health in a research note on Friday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research report on Wednesday. Royal Bank Of Canada boosted their price target on shares of Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research report on Thursday, October 22nd. Leerink Partners upped their price target on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, Morgan Stanley increased their price objective on Elevance Health from $404.00 to $449.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $456.48.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This represents a 34.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ratnakar Lavu sold 1,300 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $440.00, for a total transaction of $572,000.00. Following the sale, the executive vice president owned 14,849 shares in the company, valued at approximately $6,533,560. This trade represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. 0.34% of the stock is owned by corporate insiders.

Elevance Health Stock Up 0.2%

Shares of NYSE ELV opened at $430.16 on Friday. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $450.69. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $92.94 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.05 and a beta of 0.63. The business has a 50-day moving average of $415.11 and a 200-day moving average of $374.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping the consensus estimate of $4.71 by $2.28. The company had revenue of $50.44 billion for the quarter, compared to analysts’ expectations of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. Elevance Health’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $6.03 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 29.15 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health’s payout ratio is currently 29.34%.

About Elevance Health

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.