Elevance Health, Inc. (NYSE:ELV) Stake Raised by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 158.9% during the 3rd quarter, Holdings Channel reports. The firm owned 145,000 shares of the company’s stock after buying an additional 89,000 shares during the period. Elevance Health comprises about 5.0% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 4th biggest holding. Rhenman & Partners Asset Management AB’s holdings in Elevance Health were worth $63,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tocqueville Asset Management L.P. raised its stake in Elevance Health by 2.7% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 8,886 shares of the company’s stock valued at $3,869,000 after purchasing an additional 235 shares during the period. Ellevest Inc. raised its stake in Elevance Health by 3.2% during the 3rd quarter. Ellevest Inc. now owns 1,101 shares of the company’s stock valued at $479,000 after purchasing an additional 34 shares during the period. Sanders Capital LLC raised its stake in Elevance Health by 1.4% during the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock valued at $1,855,750,000 after purchasing an additional 58,013 shares during the period. King Wealth grew its holdings in Elevance Health by 15.8% during the 3rd quarter. King Wealth now owns 3,293 shares of the company’s stock valued at $1,434,000 after buying an additional 450 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its holdings in Elevance Health by 45.3% during the 3rd quarter. Liontrust Investment Partners LLP now owns 61,001 shares of the company’s stock valued at $26,562,000 after buying an additional 19,030 shares in the last quarter. Institutional investors own 87.80% of the company’s stock.

Elevance Health Trading Down 0.0 %

Shares of Elevance Health stock traded down $0.07 on Monday, reaching $506.01. The company had a trading volume of 193,625 shares, compared to its average volume of 1,164,140. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $506.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.41. The firm has a market cap of $118.91 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.13 and a beta of 0.78. The firm’s 50-day moving average price is $478.95 and its two-hundred day moving average price is $464.64.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same period last year, the company earned $5.23 EPS. Elevance Health’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 37.14 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be paid a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 23.52%.

Analysts Set New Price Targets

Several research firms have weighed in on ELV. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Morgan Stanley raised their price target on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Royal Bank of Canada raised their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. cut their price target on Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a report on Friday, November 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $547.00 price target on shares of Elevance Health in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $564.60.

Check Out Our Latest Report on ELV

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Elevance Health Company Profile

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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