Nykredit A S Acquires New Shares in Elevance Health, Inc. $ELV

Nykredit A S bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 82,705 shares of the company’s stock, valued at approximately $31,985,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new position in shares of Elevance Health during the second quarter valued at $7,344,424,000. Wellington Management Group LLP increased its holdings in Elevance Health by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after buying an additional 984,976 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after buying an additional 1,607,274 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after buying an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after buying an additional 24,271 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ELV shares. Wells Fargo & Company dropped their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Cantor Fitzgerald boosted their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Finally, Robert W. Baird lifted their target price on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Stock Up 2.3%

ELV opened at $415.05 on Friday. The firm’s 50 day simple moving average is $396.48 and its two-hundred day simple moving average is $364.27. The company has a market capitalization of $90.01 billion, a PE ratio of 18.45, a PEG ratio of 2.11 and a beta of 0.69. 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.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.84 EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is currently 30.58%.

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.