Handelsbanken Fonder AB Sells 1,799 Shares of Elevance Health, Inc. $ELV

Handelsbanken Fonder AB reduced its position in Elevance Health, Inc. (NYSE:ELV) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,637 shares of the company’s stock after selling 1,799 shares during the period. Handelsbanken Fonder AB’s holdings in Elevance Health were worth $25,463,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ELV. Physician Wealth Advisors Inc. lifted its holdings in shares of Elevance Health by 331.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares in the last quarter. Rossby Financial LCC lifted its holdings in shares of Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Elevance Health in the 4th quarter worth $38,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ELV shares. The Goldman Sachs Group increased their target price on Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $363.00 to $498.00 in a research note on Wednesday. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Sanford C. Bernstein raised their price objective on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Truist Financial dropped their price objective on Elevance Health from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $396.16.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $396.18 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $329.59 and its two-hundred day simple moving average is $335.33. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $411.31. The stock has a market cap of $86.04 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.66.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business had revenue of $49.49 billion for the quarter, compared to analysts’ expectations of $48.21 billion. During the same period last year, the business earned $11.97 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.8 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is currently 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.