SEB Asset Management AB Buys New Position in Elevance Health, Inc. $ELV

SEB Asset Management AB bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 47,580 shares of the company’s stock, valued at approximately $13,929,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Signet Financial Management LLC raised its holdings in Elevance Health by 3.5% in the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after purchasing an additional 28 shares during the period. Sound View Wealth Advisors Group LLC grew its holdings in Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after purchasing an additional 29 shares during the period. Fulton Breakefield Broenniman LLC increased its position in Elevance Health by 3.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after buying an additional 29 shares in the last quarter. Perigon Wealth Management LLC increased its position in Elevance Health by 2.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after buying an additional 29 shares in the last quarter. Finally, Savvy Advisors Inc. raised its stake in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research report on Thursday. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Citigroup raised shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada dropped their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Barclays reduced their price objective on shares of 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 analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $440.90.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This 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 this hyperlink. Company insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $381.82 on Tuesday. The stock has a 50-day moving average price of $399.56 and a 200 day moving average price of $355.63. The stock has a market capitalization of $82.81 billion, a P/E ratio of 16.97, a P/E/G ratio of 2.10 and a beta of 0.67. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS 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 company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same period in the previous year, the firm earned $8.84 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 27.08 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

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.