Elevance Health, Inc. $ELV Shares Sold by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 21.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,429 shares of the company’s stock after selling 15,321 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Elevance Health were worth $22,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Elevance Health during the fourth quarter valued at approximately $1,058,165,000. Wellington Management Group LLP boosted its position in shares of Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD grew its position in Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares in the last quarter. Amundi grew its stake in Elevance Health by 145.7% during the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock valued at $788,570,000 after acquiring an additional 1,597,497 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after acquiring an additional 1,306,390 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 0.1%

Shares of NYSE:ELV opened at $390.89 on Friday. 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 $84.77 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.25 and a beta of 0.68. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The company’s 50-day moving average price is $396.55 and its two-hundred day moving average price is $356.98.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $8.84 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Insider Transactions at Elevance Health

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ELV. Leerink Partners increased their target price on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Barclays lowered their price target on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Robert W. Baird boosted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group cut their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

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.