Equitable Trust Co. Sells 5,790 Shares of Elevance Health, Inc. $ELV

Key Points

• Equitable Trust Co. cut its Elevance Health position by 73.8% in the first quarter, selling 5,790 shares and leaving it with 2,059 shares valued at about $603,000.
• Wall Street sentiment remains constructive: analysts now have a Moderate Buy consensus rating on ELV, with a consensus price target of $425.95 after several firms raised targets.
• Elevance Health posted a strong quarter, beating EPS and revenue estimates with $12.58 per share on $49.49 billion in revenue, while also paying a quarterly dividend of $1.72 per share.

Equitable Trust Co. trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 73.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,059 shares of the company's stock after selling 5,790 shares during the quarter. Equitable Trust Co.'s holdings in Elevance Health were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELV. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health during the 4th quarter valued at $32,000. ORG Partners LLC raised its holdings in Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company's stock worth $38,000 after purchasing an additional 59 shares in the last quarter. Dorato Capital Management purchased a new stake in shares of Elevance Health in the 4th quarter worth about $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Elevance Health in the 4th quarter worth about $38,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ELV. Weiss Ratings upgraded shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 18th. Robert W. Baird lifted their price objective on Elevance Health from $317.00 to $331.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Royal Bank Of Canada upped their target price on Elevance Health from $358.00 to $439.00 and gave the stock a "sector perform" rating in a report on Thursday. The Goldman Sachs Group raised their target price on Elevance Health from $350.00 to $370.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Finally, Guggenheim lifted their price target on Elevance Health from $396.00 to $399.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $425.95.

Elevance Health Stock Down 0.9%

NYSE:ELV traded down $3.85 during mid-day trading on Friday, hitting $416.54. 779,522 shares of the company's stock were exchanged, compared to its average volume of 1,495,521. The company has a market cap of $90.46 billion, a PE ratio of 17.72, a P/E/G ratio of 2.36 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $427.64. The business has a fifty day moving average price of $397.16 and a 200 day moving average price of $353.48.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same period last year, the business earned $11.97 earnings per share. The business's revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities analysts predict that Elevance Health, Inc. will post 26.86 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders 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 dividend on an annualized basis and a yield of 1.7%. Elevance Health's payout ratio is presently 29.26%.

Insider Buying and Selling

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company's stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.34% of the company's stock.

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.

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