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

Avanza Fonder AB grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 9.9% during the third quarter, HoldingsChannel reports. The firm owned 16,598 shares of the company’s stock after buying an additional 1,493 shares during the period. Avanza Fonder AB’s holdings in Elevance Health were worth $5,363,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Elevance Health during the second quarter valued at approximately $1,148,379,000. Sanders Capital LLC grew its stake 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 valued at $2,265,773,000 after acquiring an additional 1,152,440 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in shares of Elevance Health during the second quarter worth about $293,141,000. Vanguard Group Inc. raised its position in shares of Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after purchasing an additional 704,790 shares in the last quarter. Finally, Orbis Allan Gray Ltd boosted its stake 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 buying an additional 680,228 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $343.30 on Friday. The firm has a market capitalization of $76.29 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth 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, Inc. has a one year low of $273.71 and a one year high of $458.75. The stock’s fifty day moving average is $334.05 and its 200-day moving average is $330.17.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.37 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently issued reports on ELV shares. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Wells Fargo & Company cut their price objective on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Elevance Health in a report on Monday. Sanford C. Bernstein lowered their price target on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, October 16th. Finally, Morgan Stanley dropped their price target on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Twelve research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $396.21.

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.