Forsta AP Fonden Grows Position in Elevance Health, Inc. (NYSE:ELV)

Forsta AP Fonden boosted its position in Elevance Health, Inc. (NYSE:ELV) by 8.1% in the third quarter, Holdings Channel.com reports. The firm owned 69,200 shares of the company’s stock after buying an additional 5,200 shares during the quarter. Forsta AP Fonden’s holdings in Elevance Health were worth $35,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ELV. Mirae Asset Global Investments Co. Ltd. lifted its position in Elevance Health by 6.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,882 shares of the company’s stock valued at $18,275,000 after acquiring an additional 2,176 shares during the period. Convergence Financial LLC increased its stake in shares of Elevance Health by 158.2% during the third quarter. Convergence Financial LLC now owns 1,100 shares of the company’s stock valued at $572,000 after purchasing an additional 674 shares in the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Elevance Health by 7.0% during the third quarter. Cromwell Holdings LLC now owns 720 shares of the company’s stock valued at $374,000 after purchasing an additional 47 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of Elevance Health by 9.0% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 1,243 shares of the company’s stock worth $646,000 after purchasing an additional 103 shares in the last quarter. Finally, Trueblood Wealth Management LLC grew its stake in shares of Elevance Health by 4.3% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,577 shares of the company’s stock worth $1,340,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELV. TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Barclays dropped their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. Bank of America reiterated a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $551.07.

Elevance Health Stock Performance

NYSE:ELV traded up $6.23 on Friday, hitting $425.27. The stock had a trading volume of 2,089,681 shares, compared to its average volume of 1,104,316. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The stock has a market cap of $98.84 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $517.51 and its two-hundred day simple moving average is $525.13.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the firm posted $8.99 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.53%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.