Danica Pension Livsforsikringsaktieselskab Decreases Stock Holdings in Elevance Health, Inc. $ELV

Danica Pension Livsforsikringsaktieselskab reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 70.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 109,858 shares of the company’s stock after selling 257,191 shares during the quarter. Danica Pension Livsforsikringsaktieselskab owned about 0.05% of Elevance Health worth $32,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health during the fourth quarter valued at $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the 4th quarter worth $32,000. ORG Partners LLC increased 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 buying an additional 59 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health in the 4th quarter worth about $38,000. Finally, Main Street Group LTD purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred 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 transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. 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 currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on ELV. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research note on Tuesday, July 7th. Guggenheim lifted their target price on Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Cantor Fitzgerald boosted their target price on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Trading Up 2.9%

ELV stock opened at $393.46 on Wednesday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $436.24. The firm’s 50-day moving average is $399.56 and its 200 day moving average is $355.93. The company has a market capitalization of $85.33 billion, a PE ratio of 17.49, a P/E/G ratio of 2.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $8.84 EPS. On average, research analysts anticipate that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s payout ratio is presently 30.58%.

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.