Elevance Health, Inc. $ELV Shares Sold by Maj Invest Holding A S

Maj Invest Holding A S cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 396,776 shares of the company’s stock after selling 44,111 shares during the quarter. Elevance Health makes up 4.4% of Maj Invest Holding A S’s portfolio, making the stock its 12th largest holding. Maj Invest Holding A S’s holdings in Elevance Health were worth $128,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in Elevance Health in the second quarter worth $1,148,379,000. Sanders Capital LLC grew its position in shares of Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after acquiring an additional 1,152,440 shares during the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in shares of Elevance Health in the 2nd quarter worth about $293,141,000. Vanguard Group Inc. lifted its position in Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after purchasing an additional 704,790 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Elevance Health by 30.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock valued at $807,741,000 after purchasing an additional 487,579 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.7%

Shares of Elevance Health stock opened at $377.52 on Tuesday. The business has a fifty day simple moving average of $350.10 and a 200-day simple moving average of $328.90. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market cap of $83.90 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ELV shares. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Mizuho set a $413.00 price target on Elevance Health in a research report on Friday, January 9th. Wells Fargo & Company lifted their price objective on shares of Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Finally, Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $399.63.

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.