Elevance Health, Inc. $ELV Shares Bought by Avanza Fonder AB

Avanza Fonder AB grew its stake in Elevance Health, Inc. (NYSE:ELV) by 9.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,598 shares of the company’s stock after purchasing an additional 1,493 shares during the period. Avanza Fonder AB’s holdings in Elevance Health were worth $5,363,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Elevance Health by 3.2% in the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after acquiring an additional 704,790 shares in the last quarter. Sanders Capital LLC boosted its holdings in 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 buying an additional 1,152,440 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Elevance Health by 9.7% during the second quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock worth $1,429,498,000 after buying an additional 324,399 shares in the last quarter. Norges Bank purchased a new position in Elevance Health in the second quarter valued at about $1,148,379,000. Finally, Orbis Allan Gray Ltd lifted its position in shares of Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Elevance Health in a research report on Monday. TD Cowen lifted their target price on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target on the stock. Finally, UBS Group dropped their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.21.

Elevance Health Price Performance

ELV opened at $343.30 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company’s 50 day simple moving average is $334.05 and its 200 day simple moving average is $330.17. The stock has a market capitalization of $76.29 billion, a PE ratio of 14.04, a P/E/G ratio of 1.59 and a beta of 0.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share 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. Elevance Health’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. Elevance Health’s payout ratio is presently 27.96%.

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.