Norges Bank Purchases Shares of 3,018,586 Elevance Health, Inc. $ELV

Norges Bank purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,018,586 shares of the company’s stock, valued at approximately $1,058,165,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Sound View Wealth Advisors Group LLC grew its position in shares of Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC grew its position in shares of Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after acquiring an additional 29 shares during the period. Perigon Wealth Management LLC grew its position in shares of Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after acquiring an additional 29 shares during the period. Savvy Advisors Inc. grew its position in shares of Elevance Health by 3.2% in the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after acquiring an additional 30 shares during the period. Finally, CoreCap Advisors LLC grew its position in shares of Elevance Health by 6.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after acquiring an additional 32 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock opened at $394.40 on Friday. The company has a market capitalization of $85.65 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.22 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. The company has a 50-day simple moving average of $343.75 and a 200 day simple moving average of $338.90. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $408.00.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. Elevance Health’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 26.94 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued 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 payout ratio is presently 29.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. UBS Group lifted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Royal Bank Of Canada downgraded shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective for the company. in a research report on Tuesday, February 3rd. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Finally, Bank of America raised shares of Elevance Health from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $435.00 in a research report on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $403.11.

Elevance Health 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.