Livforsakringsbolaget Skandia Omsesidigt Increases Position in Elevance Health, Inc. $ELV

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 19.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,536 shares of the company’s stock after purchasing an additional 5,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Elevance Health were worth $13,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Woodline Partners LP acquired a new stake in Elevance Health in the 4th quarter valued at $894,000. Waverly Advisors LLC increased its stake in shares of Elevance Health by 68.1% during the fourth quarter. Waverly Advisors LLC now owns 5,510 shares of the company’s stock worth $2,033,000 after purchasing an additional 2,233 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Elevance Health by 19.0% during the 4th quarter. Continuum Advisory LLC now owns 833 shares of the company’s stock worth $307,000 after purchasing an additional 133 shares during the last quarter. CSS LLC IL lifted its stake in Elevance Health by 34.3% in the 4th quarter. CSS LLC IL now owns 2,820 shares of the company’s stock valued at $1,040,000 after buying an additional 720 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Elevance Health by 14.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,406 shares of the company’s stock worth $16,381,000 after buying an additional 5,624 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, 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. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $315.23 on Friday. The business’s fifty day simple moving average is $303.55 and its 200-day simple moving average is $368.41. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $544.54. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market cap of $70.98 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. During the same period last year, the firm posted $10.12 earnings per share. Elevance Health’s revenue was up 14.3% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s payout ratio is currently 29.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ELV shares. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Leerink Partners reaffirmed a “market perform” rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Truist Financial dropped their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Finally, Morgan Stanley lowered their target price on Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $411.06.

Elevance Health Company Profile

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.