Elevance Health, Inc. $ELV Shares Sold by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 3.7% during the 1st quarter, Holdings Channel reports. The firm owned 75,512 shares of the company’s stock after selling 2,902 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Elevance Health were worth $32,845,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ELV. Nuveen LLC acquired a new stake in shares of Elevance Health in the first quarter valued at about $789,943,000. GAMMA Investing LLC boosted its position in Elevance Health by 81,726.5% during the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock worth $641,355,000 after acquiring an additional 1,472,712 shares during the last quarter. Vanguard Group Inc. boosted its position in Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the last quarter. Boston Partners boosted its position in Elevance Health by 241.3% during the first quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after acquiring an additional 605,689 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Elevance Health by 247.7% during the fourth quarter. Two Sigma Investments LP now owns 501,494 shares of the company’s stock worth $185,001,000 after acquiring an additional 357,257 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $309.55 on Thursday. The company’s 50 day simple moving average is $320.31 and its 200-day simple moving average is $376.99. The company has a market capitalization of $69.71 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.58. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $10.12 EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 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, September 25th. Investors of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s payout ratio is 29.11%.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction on Friday, July 18th. The shares were purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of analyst reports. Leerink Partners reaffirmed a “market perform” rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Robert W. Baird reduced their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Leerink Partnrs downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Finally, Truist Financial reduced their price target on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $413.81.

About Elevance Health

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.