PensionDanmark Pensionsforsikringsaktieselskab Trims Stock Holdings in Elevance Health, Inc. $ELV

PensionDanmark Pensionsforsikringsaktieselskab lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 21.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,429 shares of the company’s stock after selling 15,321 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Elevance Health were worth $22,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ELV. Norges Bank acquired a new stake in Elevance Health during the fourth quarter worth about $1,058,165,000. Wellington Management Group LLP lifted its holdings 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in Elevance Health by 27.5% during the 4th 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 during the period. Amundi grew its stake in Elevance Health by 145.7% during the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock worth $788,570,000 after buying an additional 1,597,497 shares during the last quarter. Finally, Invesco Ltd. increased its position 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 during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

ELV stock opened at $390.89 on Friday. The company has a market capitalization of $84.77 billion, a P/E ratio of 17.37, a PEG ratio of 2.25 and a beta of 0.68. The company has a 50-day simple moving average of $396.55 and a 200 day simple moving average of $356.98. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the company earned $8.84 EPS. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ELV shares. Barclays cut their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Citigroup raised shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada decreased their target price on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Finally, Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $440.90.

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.