AMF Tjanstepension AB Grows Holdings in Elevance Health, Inc. $ELV

AMF Tjanstepension AB increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,133 shares of the company’s stock after purchasing an additional 6,696 shares during the period. AMF Tjanstepension AB’s holdings in Elevance Health were worth $69,713,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Elevance Health during the fourth quarter worth about $1,058,165,000. Wellington Management Group LLP increased its position in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after acquiring an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD increased its position in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after acquiring an additional 1,607,274 shares during the period. Invesco Ltd. raised its stake in Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after acquiring an additional 1,306,390 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Elevance Health by 79.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after acquiring an additional 1,065,065 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company’s stock, 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 can be accessed through this link. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. UBS Group increased their price target on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Leerink Partners set a $364.00 price objective on shares of Elevance Health in a research report on Thursday, April 23rd. Guggenheim raised their target price on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $425.95.

Elevance Health Price Performance

Shares of NYSE ELV opened at $416.54 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $427.64. The firm has a market capitalization of $90.46 billion, a P/E ratio of 17.72, a PEG ratio of 2.36 and a beta of 0.67. The company’s fifty day moving average is $397.16 and its two-hundred day moving average is $353.55.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts forecast that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

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.