42,582 Shares in Elevance Health, Inc. $ELV Bought by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 42,582 shares of the company’s stock, valued at approximately $16,468,000.

Several other large investors have also modified their holdings of ELV. WealthCollab LLC grew its position in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC acquired a new stake in Elevance Health during the second quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the fourth quarter valued at about $32,000. Finally, Main Street Group LTD purchased a new position in shares of Elevance Health during the 1st quarter valued at $39,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Trading Up 1.1%

NYSE ELV opened at $400.66 on Friday. The company has a market capitalization of $86.89 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year 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. The firm’s fifty day simple moving average is $394.76 and its 200-day simple moving average is $359.92.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $8.84 EPS. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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 paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent analyst reports. Citigroup raised Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Leerink Partners boosted their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Royal Bank Of Canada lowered their target price on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Finally, Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Fifteen investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

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.