Maj Invest Holding A S reduced its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 226,870 shares of the company’s stock after selling 3,117 shares during the quarter. Elevance Health makes up about 3.9% of Maj Invest Holding A S’s holdings, making the stock its 15th largest position. Maj Invest Holding A S’s holdings in Elevance Health were worth $88,209,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management raised its stake in Elevance Health by 146.2% in the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock valued at $25,000 after acquiring an additional 38 shares during the period. Kilter Group LLC bought a new position in Elevance Health during the second quarter worth about $28,000. WealthCollab LLC boosted its position in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the period. Elevation Wealth Partners LLC increased its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Finally, Tacita Capital Inc purchased a new position in shares of Elevance Health in the second quarter worth about $44,000. 89.24% of the stock is currently owned by institutional investors.
Elevance Health Stock Down 1.9%
Shares of NYSE ELV opened at $413.42 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. The company has a market cap of $89.32 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.10 and a beta of 0.70. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $450.69. The business has a 50-day simple moving average of $409.71 and a two-hundred day simple moving average of $371.85.
Elevance Health (NYSE:ELV – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The firm had revenue of $50.44 billion for the quarter, compared to analysts’ expectations of $49.28 billion. During the same period in the prior year, the business posted $6.03 earnings per share. The company’s revenue was up .7% on a year-over-year basis. Research analysts anticipate that Elevance Health, Inc. will post 29.15 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, December 18th. Shareholders of record on Friday, December 4th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is presently 29.34%.
Insider Buying and Selling
In other news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the completion of the transaction, the chief financial officer directly owned 19,919 shares in the company, valued at $8,766,949.47. The trade was a 34.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by insiders.
Analyst Ratings Changes
ELV has been the topic of several research reports. UBS Group boosted their price target on shares of Elevance Health from $460.00 to $523.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Cantor Fitzgerald raised their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. TD Cowen lifted their price objective on shares of Elevance Health from $465.00 to $495.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Finally, Truist Financial boosted their target price on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $456.48.
Get Our Latest Analysis on Elevance Health
About Elevance Health
Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.
Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.
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