Handelsbanken Fonder AB Grows Position in Elevance Health, Inc. $ELV

Handelsbanken Fonder AB raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 16.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,139 shares of the company’s stock after purchasing an additional 10,253 shares during the period. Handelsbanken Fonder AB’s holdings in Elevance Health were worth $28,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GLOBALT Investments LLC GA grew its stake in Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after buying an additional 24 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of Elevance Health by 13.3% in the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after acquiring an additional 27 shares during the period. Aspen Investment Management Inc grew its position in shares of Elevance Health by 2.6% in the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after purchasing an additional 27 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in shares of Elevance Health by 5.3% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after purchasing an additional 30 shares during the period. Finally, Regatta Capital Group LLC boosted its stake in Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after purchasing an additional 30 shares during the period. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ELV. Robert W. Baird decreased their price target on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. UBS Group reduced their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Mizuho lowered their target price on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Barclays cut their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Finally, Truist Financial set a $400.00 price target on shares of Elevance Health in a report on Tuesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $397.33.

Elevance Health Stock Performance

NYSE ELV opened at $321.73 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a fifty day moving average of $330.76 and a 200-day moving average of $338.63. The company has a market capitalization of $71.50 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter last year, the business posted $8.37 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

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.