Elevance Health, Inc. (NYSE:ELV) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,992 shares of the company’s stock after acquiring an additional 764 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Elevance Health were worth $7,070,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 1.4% in the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock valued at $1,855,750,000 after purchasing an additional 58,013 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Elevance Health by 13.1% in the second quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock valued at $1,428,243,000 after purchasing an additional 372,937 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Elevance Health by 1.8% in the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock valued at $1,396,583,000 after purchasing an additional 56,204 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after purchasing an additional 27,986 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after purchasing an additional 46,322 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV traded up $2.00 during midday trading on Wednesday, reaching $508.97. 1,401,400 shares of the company’s stock were exchanged, compared to its average volume of 1,033,048. The firm has a market capitalization of $118.44 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $521.18. The business has a 50-day simple moving average of $507.94 and a two-hundred day simple moving average of $482.10.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.23 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.28%. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada upped their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Barclays began coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $569.00.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.