Elevance Health, Inc. $ELV Stake Lowered by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its position in Elevance Health, Inc. (NYSE:ELV) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,888 shares of the company’s stock after selling 11,632 shares during the quarter. AMF Tjanstepension AB owned approximately 0.06% of Elevance Health worth $44,554,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ELV. Canoe Financial LP raised its position in shares of Elevance Health by 18.1% during the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after acquiring an additional 59,743 shares during the last quarter. Synergy Asset Management LLC increased its stake in shares of Elevance Health by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after acquiring an additional 52,167 shares during the last quarter. Delta Investment Management LLC acquired a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $7,629,000. OLD National Bancorp IN increased its stake in Elevance Health by 44.8% in the second quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock valued at $2,438,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Guggenheim upped their price objective on shares of Elevance Health from $398.00 to $414.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial set a $400.00 target price on Elevance Health in a report on Tuesday, October 14th. Wells Fargo & Company increased their price target on Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health Trading Down 0.4%

Shares of NYSE ELV opened at $370.77 on Friday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The firm has a market cap of $82.40 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. The business has a fifty day simple moving average of $349.17 and a two-hundred day simple moving average of $328.79. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

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.