Andra AP fonden Buys Shares of 8,840 Elevance Health, Inc. $ELV

Andra AP fonden bought a new position in Elevance Health, Inc. (NYSE:ELV) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,840 shares of the company’s stock, valued at approximately $2,588,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kemnay Advisory Services Inc. bought a new stake in Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health during the fourth quarter valued at $32,000. ORG Partners LLC boosted its stake in Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after buying an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health during the 4th quarter worth approximately $38,000. Finally, Main Street Group LTD purchased a new position in Elevance Health during the 1st quarter worth $39,000. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ELV. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Leerink Partners raised their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Royal Bank Of Canada decreased 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 note on Thursday, July 16th. Finally, Morgan Stanley boosted their price objective on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Down 1.1%

Shares of ELV opened at $389.29 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24. The stock has a market capitalization of $84.42 billion, a PE ratio of 17.30, a P/E/G ratio of 2.26 and a beta of 0.67. The company’s 50-day simple moving average is $399.36 and its 200-day simple moving average is $356.20.

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

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s payout ratio is currently 30.58%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

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.