Sumitomo Mitsui Trust Group Inc. Reduces Holdings in Elevance Health, Inc. $ELV

Key Points

• Sumitomo Mitsui Trust Group cut its Elevance Health position by 36.5% in the first quarter, selling 346,080 shares and ending with 602,920 shares valued at about $176.5 million.
• Elevance Health reported strong quarterly results, with EPS of $12.58 beating estimates and revenue of $49.49 billion topping expectations; the company also raised its FY 2026 guidance.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $425.95, while the company recently paid a quarterly dividend of $1.72 per share.

Sumitomo Mitsui Trust Group Inc. lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 36.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 602,920 shares of the company's stock after selling 346,080 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Elevance Health worth $176,505,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $32,000. ORG Partners LLC raised its holdings in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock worth $38,000 after buying an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health during the 4th quarter worth approximately $38,000. Finally, Dorato Capital Management purchased a new position in Elevance Health during the 4th quarter valued at $41,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 0.9%

Shares of NYSE ELV opened at $419.89 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $91.18 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.36 and a beta of 0.67. The stock's fifty day simple moving average is $396.36 and its two-hundred day simple moving average is $353.04. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $427.64.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business's revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts expect that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, June 10th. Elevance Health's payout ratio is 29.26%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ELV. Bank of America upped their price objective on Elevance Health from $435.00 to $460.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Truist Financial boosted their target price on shares of Elevance Health from $375.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, June 1st. The Goldman Sachs Group upped their price target on shares of Elevance Health from $350.00 to $370.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Weiss Ratings raised shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 18th. Finally, Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a report on Tuesday. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $425.95.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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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