SouthState Bank Corp Sells 2,013 Shares of Elevance Health, Inc. $ELV

SouthState Bank Corp trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,467 shares of the company’s stock after selling 2,013 shares during the quarter. SouthState Bank Corp’s holdings in Elevance Health were worth $9,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health in the fourth quarter worth $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health in the 4th quarter valued at $32,000. ORG Partners LLC lifted its position 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 in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $38,000. Finally, Dorato Capital Management purchased a new stake in Elevance Health during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ELV shares. UBS Group upped their price objective on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Morgan Stanley lifted their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Citigroup upgraded Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $435.05.

Elevance Health Trading Up 1.2%

Elevance Health stock opened at $430.21 on Wednesday. The stock has a 50-day moving average price of $399.37 and a 200 day moving average price of $354.74. The company has a market capitalization of $93.42 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. 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, Inc. has a 52 week low of $273.71 and a 52 week high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share 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 firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same quarter in the prior year, the business earned $11.97 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts anticipate 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 given 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 dividend payout ratio is currently 29.26%.

Elevance Health Company 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.