Comerica Bank Sells 2,331 Shares of Elevance Health, Inc. $ELV

Comerica Bank lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,056 shares of the company’s stock after selling 2,331 shares during the period. Comerica Bank’s holdings in Elevance Health were worth $11,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Physician Wealth Advisors Inc. grew its position in Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after acquiring an additional 63 shares during the last quarter. Activest Wealth Management grew its position in Elevance Health by 66.7% in the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 34 shares during the last quarter. Rossby Financial LCC grew its position in Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after acquiring an additional 44 shares during the last quarter. Motco grew its position in Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares during the last quarter. Finally, True Wealth Design LLC grew its position in Elevance Health by 431.8% in the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $362.66 on Wednesday. The stock has a market cap of $78.75 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 2.13 and a beta of 0.49. 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’s 50-day moving average is $309.52 and its 200-day moving average is $331.28. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $424.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. The company 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 26.79 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors 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 payout ratio is currently 29.26%.

Analysts Set New Price Targets

A number of research firms have issued reports on ELV. Royal Bank Of Canada cut Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price on the stock. in a research report on Tuesday, February 3rd. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Leerink Partners set a $364.00 price target on Elevance Health in a report on Thursday, April 23rd. Robert W. Baird boosted their price target on Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Finally, Truist Financial reduced their price target on Elevance Health from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $381.16.

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.