Truist Financial Corp Sells 16,372 Shares of Elevance Health, Inc. $ELV

Truist Financial Corp cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,887 shares of the company's stock after selling 16,372 shares during the period. Truist Financial Corp owned 0.06% of Elevance Health worth $48,687,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ELV. Artisan Partners Limited Partnership raised its position in Elevance Health by 24.5% in the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company's stock worth $1,478,857,000 after acquiring an additional 901,626 shares during the period. First Eagle Investment Management LLC raised its position in shares of Elevance Health by 25.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company's stock valued at $1,292,029,000 after purchasing an additional 798,457 shares during the period. Brave Warrior Advisors LLC raised its position in shares of Elevance Health by 65.3% during the 3rd quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company's stock valued at $592,603,000 after purchasing an additional 724,349 shares during the period. Baupost Group LLC MA raised its position in shares of Elevance Health by 114.1% during the 3rd quarter. Baupost Group LLC MA now owns 1,319,000 shares of the company's stock valued at $426,195,000 after purchasing an additional 703,000 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of Elevance Health by 44.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,045,480 shares of the company's stock valued at $660,935,000 after purchasing an additional 627,038 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial decreased their price objective on shares of Elevance Health from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Citigroup upgraded shares of Elevance Health to a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Elevance Health from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, April 24th. Sanford C. Bernstein raised their price objective on shares of Elevance Health from $384.00 to $424.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada downgraded shares of Elevance Health from an "outperform" rating to a "sector perform" rating and set a $358.00 price objective on the stock. in a research report on Tuesday, February 3rd. Thirteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $384.58.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $369.06 on Wednesday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $424.24. The stock has a market capitalization of $80.15 billion, a P/E ratio of 15.70, a PEG ratio of 2.12 and a beta of 0.66. The firm has a fifty day simple moving average of $311.21 and a two-hundred day simple moving average of $331.78. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. During the same period last year, the company posted $11.97 EPS. 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. On average, analysts expect that Elevance Health, Inc. will post 26.79 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

Elevance Health Profile

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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