Swedbank AB Reduces Stake in Elevance Health, Inc. $ELV

Swedbank AB cut its stake in Elevance Health, Inc. (NYSE:ELV) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 307,343 shares of the company’s stock after selling 44,292 shares during the period. Swedbank AB owned about 0.14% of Elevance Health worth $99,309,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Aspen Investment Management Inc boosted its position in shares of Elevance Health by 2.6% in the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after purchasing an additional 27 shares during the period. Nilsine Partners LLC lifted its stake in Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after buying an additional 29 shares during the last quarter. Regatta Capital Group LLC boosted its holdings in shares of Elevance Health by 3.0% in the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after acquiring an additional 30 shares during the period. Accurate Wealth Management LLC grew its position in shares of Elevance Health by 4.9% during the second quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock worth $275,000 after acquiring an additional 33 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in shares of Elevance Health by 3.8% in the 1st quarter. Bell Investment Advisors Inc now owns 990 shares of the company’s stock valued at $430,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $343.30 on Thursday. The firm has a 50 day moving average of $334.15 and a 200-day moving average of $330.08. The company has a market cap of $76.29 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.59 and a beta of 0.52. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $8.37 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Mizuho decreased their target price on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $320.00 price target (down previously from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Bank of America boosted their target price on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Twelve equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.21.

Elevance Health 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.