Nordea Investment Management AB Sells 386,329 Shares of Elevance Health, Inc. $ELV

Nordea Investment Management AB decreased its position in Elevance Health, Inc. (NYSE:ELV) by 48.6% during the third quarter, HoldingsChannel.com reports. The firm owned 408,794 shares of the company’s stock after selling 386,329 shares during the quarter. Nordea Investment Management AB’s holdings in Elevance Health were worth $130,867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Elevance Health during the second quarter valued at approximately $32,000. Motco raised its holdings in Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the last quarter. True Wealth Design LLC lifted its position in Elevance Health by 431.8% in the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its position in Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 80 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

NYSE ELV opened at $370.39 on Wednesday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm has a market capitalization of $82.31 billion, a P/E ratio of 15.14, a PEG ratio of 1.93 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. The company has a 50-day moving average price of $340.51 and a 200-day moving average price of $327.91.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter last year, the firm posted $8.37 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wolfe Research set a $425.00 target price on Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Bank of America increased their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Robert W. Baird boosted their target price on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Wells Fargo & Company raised their price target on shares of Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Finally, Morgan Stanley decreased their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $400.85.

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.