Elevance Health, Inc. $ELV Shares Sold by DNB Asset Management AS

DNB Asset Management AS lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,880 shares of the company’s stock after selling 1,615 shares during the quarter. DNB Asset Management AS’s holdings in Elevance Health were worth $15,901,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Nuveen LLC acquired a new position in Elevance Health during the 1st quarter worth approximately $789,943,000. Sanders Capital LLC lifted its position in shares of Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after purchasing an additional 1,152,440 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after purchasing an additional 704,790 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after purchasing an additional 680,228 shares during the period. Finally, Boston Partners grew its holdings in Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after purchasing an additional 605,689 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ELV. JPMorgan Chase & Co. boosted their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Cowen reissued a “buy” rating on shares of Elevance Health in a report on Thursday, October 23rd. Truist Financial set a $400.00 price objective on Elevance Health in a report on Tuesday, October 14th. The Goldman Sachs Group started coverage on Elevance Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Elevance Health presently has a consensus rating of “Hold” and an average target price of $397.33.

Elevance Health Stock Performance

Shares of ELV opened at $321.73 on Friday. The business’s fifty day moving average price is $330.76 and its 200 day moving average price is $338.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The stock has a market capitalization of $71.50 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating 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 business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the prior year, the firm earned $8.37 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Elevance Health 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.