SVB Wealth LLC Sells 7,762 Shares of Elevance Health, Inc. $ELV

Key Points

• SVB Wealth LLC cut its Elevance Health stake by 46.5% in the first quarter, selling 7,762 shares and leaving it with 8,938 shares valued at about $2.6 million.
• Elevance Health reported stronger-than-expected quarterly results, with EPS of $12.58 versus the $10.74 estimate and revenue of $49.49 billion topping forecasts. The company also kept its FY 2026 EPS guidance at 19.850.
• The company announced a quarterly dividend of $1.72 per share, payable June 25, implying an annualized payout of $6.88 and a yield of 1.7%. Analysts remain broadly constructive, with a consensus rating of Moderate Buy and an average price target of $416.11.

SVB Wealth LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 46.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,938 shares of the company's stock after selling 7,762 shares during the quarter. SVB Wealth LLC's holdings in Elevance Health were worth $2,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Sound View Wealth Advisors Group LLC grew its stake in shares of Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock valued at $354,000 after buying an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its stake in shares of Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock valued at $289,000 after acquiring an additional 29 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock valued at $481,000 after acquiring an additional 29 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock valued at $343,000 after acquiring an additional 30 shares during the period. Finally, CoreCap Advisors LLC grew its position in Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company's stock worth $195,000 after acquiring an additional 32 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 1.7%

NYSE ELV opened at $394.98 on Tuesday. The stock has a market cap of $85.77 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The stock has a 50 day simple moving average of $376.85 and a two-hundred day simple moving average of $347.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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. The firm had revenue of $49.49 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, analysts forecast that Elevance Health, Inc. will post 26.93 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. 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 firm'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 sale, the director directly owned 10,734 shares of the company's stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Leerink Partners set a $364.00 price target on Elevance Health in a research note on Thursday, April 23rd. Weiss Ratings raised Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 18th. Citigroup upgraded shares of Elevance Health to a "buy" rating in a report on Wednesday, April 29th. Morgan Stanley lifted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. Finally, Evercore reiterated a "hold" rating on shares of Elevance Health in a report on Tuesday, May 19th. Fourteen equities research 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, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $416.11.

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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