Rhenman & Partners Asset Management AB Sells 7,500 Shares of Elevance Health, Inc. $ELV

Rhenman & Partners Asset Management AB lowered its position in Elevance Health, Inc. (NYSE:ELV) by 33.3% in the 4th quarter, Holdings Channel reports. The firm owned 15,000 shares of the company’s stock after selling 7,500 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Elevance Health were worth $5,258,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ELV. Norges Bank bought a new stake in Elevance Health in the fourth quarter worth about $1,058,165,000. Bank of New York Mellon Corp lifted its stake in Elevance Health by 79.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock worth $844,371,000 after purchasing an additional 1,065,065 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Elevance Health by 24.5% in the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock worth $1,478,857,000 after purchasing an additional 901,626 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Elevance Health by 25.0% in the third quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock worth $1,292,029,000 after purchasing an additional 798,457 shares during the last quarter. Finally, Brave Warrior Advisors LLC lifted its stake in Elevance Health by 65.3% in the third quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company’s stock worth $592,603,000 after purchasing an additional 724,349 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Sanford C. Bernstein lifted their price target on shares of Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Robert W. Baird lifted their price target on shares of Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Citigroup raised shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Finally, Truist Financial lifted their price target on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $416.11.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’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 completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Elevance Health Stock Performance

Elevance Health stock opened at $403.74 on Friday. The company has a 50 day moving average price of $366.62 and a 200-day moving average price of $344.86. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The company has a market capitalization of $87.68 billion, a PE ratio of 17.17, a P/E/G ratio of 2.26 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter in the previous year, the firm posted $11.97 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 26.93 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s payout ratio is 29.26%.

Elevance Health Company 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.