Danica Pension Livsforsikringsaktieselskab Lowers Position in Elevance Health, Inc. $ELV

Danica Pension Livsforsikringsaktieselskab trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 70.1% during the 1st quarter, Holdings Channel reports. The fund owned 109,858 shares of the company’s stock after selling 257,191 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in Elevance Health were worth $32,161,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Elevance Health by 27.5% during the fourth 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 purchasing an additional 1,607,274 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Elevance Health by 10.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after buying an additional 455,946 shares during the period. First Eagle Investment Management LLC increased its holdings in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after buying an additional 24,271 shares during the period. Finally, Invesco Ltd. raised its stake in Elevance Health by 50.3% in the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after buying an additional 1,306,390 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ELV shares. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Jefferies Financial Group cut their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Barclays decreased their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Guggenheim raised their price objective on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Wells Fargo & Company cut their target price on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $393.46 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $85.33 billion, a PE ratio of 17.49, a P/E/G ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $436.24. The stock has a fifty day moving average price of $399.56 and a 200-day moving average price of $355.93.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the business earned $8.84 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts predict that Elevance Health, Inc. will post 27.08 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th 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 Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

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.