Livforsakringsbolaget Skandia Omsesidigt Has $7.07 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,992 shares of the company’s stock after acquiring an additional 764 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Elevance Health were worth $7,070,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ELV. Norges Bank bought a new position in Elevance Health during the fourth quarter worth $1,253,211,000. Legal & General Group Plc bought a new position in Elevance Health during the fourth quarter worth $944,528,000. Moneta Group Investment Advisors LLC bought a new position in Elevance Health during the fourth quarter worth $664,077,000. Arrowstreet Capital Limited Partnership raised its stake in Elevance Health by 825.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock worth $372,715,000 after buying an additional 676,769 shares during the last quarter. Finally, Barclays PLC raised its stake in Elevance Health by 52.9% during the second quarter. Barclays PLC now owns 1,263,401 shares of the company’s stock worth $561,318,000 after buying an additional 437,225 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 0.4 %

Elevance Health stock traded up $2.00 during midday trading on Wednesday, hitting $508.97. 1,401,400 shares of the stock were exchanged, compared to its average volume of 1,033,048. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $521.18. The stock has a market capitalization of $118.44 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.78. The business’s 50-day moving average price is $507.94 and its 200-day moving average price is $482.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion for the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.23 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 37.03 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.28%. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. Elevance Health’s payout ratio is presently 25.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Barclays initiated coverage on shares of Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective for the company. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $569.00.

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.