Rhenman & Partners Asset Management AB Sells 22,150 Shares of Elevance Health, Inc. $ELV

Rhenman & Partners Asset Management AB cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 49.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,500 shares of the company’s stock after selling 22,150 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Elevance Health were worth $7,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Elevance Health by 23.7% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,523,450 shares of the company’s stock valued at $815,377,000 after acquiring an additional 483,340 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $63,505,000. Legacy Capital Group California Inc. lifted its position in shares of Elevance Health by 62.5% in the third quarter. Legacy Capital Group California Inc. now owns 1,217 shares of the company’s stock worth $393,000 after purchasing an additional 468 shares in the last quarter. Modern Wealth Management LLC lifted its position in shares of Elevance Health by 2.2% in the third quarter. Modern Wealth Management LLC now owns 1,979 shares of the company’s stock worth $639,000 after purchasing an additional 42 shares in the last quarter. Finally, DKRT Investments Corp. boosted its holdings in Elevance Health by 97.3% during the third quarter. DKRT Investments Corp. now owns 146,000 shares of the company’s stock worth $47,176,000 after purchasing an additional 72,000 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ELV. Truist Financial decreased their target price on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the stock an “outperform” rating in a research note on Thursday, January 8th. TD Cowen restated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Mizuho set a $413.00 target price on Elevance Health in a research report on Friday, January 9th. Finally, Leerink Partners upped their target price on Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Trading Up 1.1%

Shares of Elevance Health stock opened at $289.56 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day simple moving average of $344.64 and a two-hundred day simple moving average of $335.17. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a market capitalization of $63.91 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.60 and a beta of 0.51.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. The firm had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a $1.72 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Elevance Health’s dividend payout ratio (DPR) is currently 27.23%.

About Elevance Health

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.