Oslo Pensjonsforsikring AS Invests $472,000 in Elevance Health, Inc. $ELV

Oslo Pensjonsforsikring AS purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the first quarter, Holdings Channel reports. The firm purchased 1,613 shares of the company’s stock, valued at approximately $472,000.

A number of other hedge funds also recently bought and sold shares of the business. Kemnay Advisory Services Inc. purchased a new position in Elevance Health during the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health in the 4th quarter valued at $32,000. ORG Partners LLC grew its holdings in Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after buying an additional 59 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of Elevance Health in the 4th quarter worth $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Elevance Health in the 4th quarter worth $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ELV. Royal Bank Of Canada lowered their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. The Goldman Sachs Group restated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Morgan Stanley increased their price target on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Trading Up 2.9%

Shares of NYSE ELV opened at $393.46 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $85.33 billion, a PE ratio of 17.49, a PEG ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $436.24. The stock has a fifty day simple moving average of $399.56 and a 200-day simple moving average of $355.93.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 EPS. Elevance Health’s revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 27.08 earnings per share for the current year.

Elevance Health Announces Dividend

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

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.