Nykredit A S Acquires New Stake in Elevance Health, Inc. $ELV

Nykredit A S bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 77,041 shares of the company’s stock, valued at approximately $29,794,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its holdings in Elevance Health by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 782 shares of the company’s stock valued at $302,000 after purchasing an additional 65 shares during the period. Range Advisory LLC purchased a new stake in shares of Elevance Health during the second quarter worth approximately $267,000. Cornerstone Financial Management LLC raised its holdings in Elevance Health by 12.0% in the second quarter. Cornerstone Financial Management LLC now owns 270 shares of the company’s stock valued at $104,000 after acquiring an additional 29 shares in the last quarter. Formuepleje A S increased its position in shares of Elevance Health by 15.9% in the 2nd quarter. Formuepleje A S now owns 23,786 shares of the company’s stock valued at $9,199,000 after purchasing an additional 3,263 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Elevance Health in the 2nd quarter valued at $32,779,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ELV shares. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a report on Thursday, July 16th. Bank of America boosted their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Truist Financial upped their price target on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. TD Cowen boosted their target price on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company cut their price target on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Stock Performance

Shares of ELV opened at $410.71 on Friday. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $89.07 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.16 and a beta of 0.69. The business’s 50 day moving average is $397.09 and its two-hundred day moving average is $369.87.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the company posted $8.84 earnings per share. Elevance Health’s revenue was up .8% on a year-over-year basis. Analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Elevance Health Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.