Danske Bank A S Buys New Position in Elevance Health, Inc. $ELV

Danske Bank A S purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 122,544 shares of the company’s stock, valued at approximately $47,391,000. Danske Bank A S owned about 0.06% of Elevance Health as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. WealthCollab LLC grew its position in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Signet Financial Management LLC raised its position in Elevance Health by 3.5% in the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after purchasing an additional 28 shares during the last quarter. Sapient Capital LLC raised its position in Elevance Health by 1.2% in the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock valued at $765,000 after purchasing an additional 31 shares during the last quarter. Mutual Advisors LLC boosted its stake in Elevance Health by 1.4% during the 4th quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock worth $803,000 after purchasing an additional 32 shares during the period. Finally, Waddell & Associates LLC grew its position in Elevance Health by 2.6% during the 4th quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock worth $435,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by company insiders.

Elevance Health Stock Up 0.1%

ELV opened at $398.53 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The stock has a market capitalization of $86.43 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.29 and a beta of 0.68. The business has a 50 day simple moving average of $394.87 and a 200-day simple moving average of $359.27.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the company posted $8.84 earnings per share. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELV. Royal Bank Of Canada lowered their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Morgan Stanley increased their price objective on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. UBS Group lifted their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Citigroup raised Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Finally, Barclays cut their price target on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $440.90.

About Elevance Health

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.