Handelsbanken Fonder AB Acquires 5,772 Shares of Elevance Health, Inc. $ELV

Handelsbanken Fonder AB boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,811 shares of the company’s stock after buying an additional 5,772 shares during the period. Handelsbanken Fonder AB’s holdings in Elevance Health were worth $30,865,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. WealthCollab LLC grew its holdings in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares during the last quarter. Signet Financial Management LLC raised its holdings in shares of Elevance Health by 3.5% in the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after acquiring an additional 28 shares during the last quarter. Sapient Capital LLC lifted its position in Elevance Health by 1.2% in the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock valued at $765,000 after acquiring an additional 31 shares in the last quarter. Mutual Advisors LLC lifted its position in Elevance Health by 1.4% in the 4th quarter. Mutual Advisors LLC now owns 2,290 shares of the company’s stock valued at $803,000 after acquiring an additional 32 shares in the last quarter. Finally, Waddell & Associates LLC boosted its stake in Elevance Health by 2.6% during the 4th quarter. Waddell & Associates LLC now owns 1,241 shares of the company’s stock valued at $435,000 after purchasing an additional 32 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Morgan Stanley upped their price target on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Bank of America increased their price target on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Price Performance

Elevance Health stock opened at $389.39 on Wednesday. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The company’s 50 day moving average price is $396.46 and its two-hundred day moving average price is $357.47. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market cap of $84.45 billion, a P/E ratio of 17.31, a P/E/G ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $8.84 earnings per share. On average, equities analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health’s payout ratio is currently 30.58%.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

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.