Swedbank AB Sells 5,074 Shares of Elevance Health, Inc. $ELV

Swedbank AB reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 301,106 shares of the company’s stock after selling 5,074 shares during the period. Swedbank AB’s holdings in Elevance Health were worth $88,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Sound View Wealth Advisors Group LLC raised its holdings in 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 worth $354,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC boosted its holdings in Elevance Health by 3.6% during the fourth 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 fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after purchasing an additional 29 shares during the last quarter. Savvy Advisors Inc. grew its position in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Elevance Health by 6.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock worth $195,000 after purchasing an additional 32 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of several research analyst reports. Raymond James Financial set a $450.00 price objective on Elevance Health in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised 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. Barclays increased their price objective on Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Robert W. Baird raised their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group dropped their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.10.

Elevance Health Stock Performance

ELV opened at $418.65 on Wednesday. The stock’s 50 day simple moving average is $394.02 and its 200-day simple moving average is $351.98. 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 has a market cap of $90.91 billion, a PE ratio of 17.81, a P/E/G ratio of 2.32 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $427.19.

Elevance Health (NYSE:ELV) last issued 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. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same period last year, the business earned $11.97 earnings per share. Elevance Health’s quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 26.86 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s 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.