Truist Financial Corp Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Truist Financial Corp boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263,768 shares of the company's stock after buying an additional 14,072 shares during the quarter. Truist Financial Corp owned approximately 0.12% of Elevance Health worth $114,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Milestone Asset Management LLC raised its position in shares of Elevance Health by 2.2% in the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc raised its position in shares of Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after acquiring an additional 26 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after acquiring an additional 27 shares in the last quarter. Barlow Wealth Partners Inc. raised its position in shares of Elevance Health by 1.3% in the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock worth $961,000 after acquiring an additional 30 shares in the last quarter. Finally, McLean Asset Management Corp raised its position in shares of Elevance Health by 2.3% in the 1st quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after acquiring an additional 32 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ELV shares. Robert W. Baird reissued a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Royal Bank Of Canada restated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday, June 4th. Mizuho upped their price target on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Barclays cut their price target on Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $498.87.

Elevance Health Stock Performance

Shares of ELV opened at $348.92 on Friday. The business's fifty day simple moving average is $387.65 and its two-hundred day simple moving average is $398.19. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 12 month low of $347.21 and a 12 month high of $567.26. The company has a market cap of $78.83 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 0.88 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.96%. Elevance Health's payout ratio is 26.69%.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.

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