Maj Invest Holding A S Decreases Stock Holdings in Elevance Health, Inc. $ELV

Maj Invest Holding A S decreased its position in Elevance Health, Inc. (NYSE:ELV) by 34.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 262,039 shares of the company’s stock after selling 134,737 shares during the quarter. Elevance Health accounts for approximately 4.3% of Maj Invest Holding A S’s investment portfolio, making the stock its 15th largest position. Maj Invest Holding A S’s holdings in Elevance Health were worth $91,856,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of Elevance Health in the fourth quarter valued at about $5,941,000. Evergreen Wealth Management LLC increased its position in shares of Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after buying an additional 4,336 shares during the period. Blume Capital Management Inc. increased its position in shares of Elevance Health by 236.7% during the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after buying an additional 4,320 shares during the period. Victory Capital Management Inc. increased its position in shares of Elevance Health by 31.1% during the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock valued at $149,182,000 after buying an additional 109,462 shares during the period. Finally, Caprock Group LLC purchased a new position in shares of Elevance Health during the third quarter valued at about $1,638,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELV. Mizuho reduced their price target on shares of Elevance Health from $413.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Bank of America upgraded shares of Elevance Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $405.00 to $435.00 in a research report on Wednesday, April 29th. Truist Financial reduced their price target on shares of Elevance Health from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. The Goldman Sachs Group boosted their price target on shares of Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Citigroup upgraded shares of Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Thirteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $384.58.

Elevance Health Price Performance

Shares of ELV opened at $393.35 on Tuesday. The stock has a market cap of $85.42 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.66. 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 fifty-two week low of $273.71 and a fifty-two week high of $412.96. The firm’s 50-day simple moving average is $325.02 and its two-hundred day simple moving average is $334.34.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The business had revenue of $49.49 billion for 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 was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts anticipate that Elevance Health, Inc. will post 26.79 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s dividend payout ratio is 29.26%.

Elevance Health Company 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.