Swedbank AB Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Swedbank AB lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.1% during the 3rd quarter, Holdings Channel reports. The firm owned 141,641 shares of the company’s stock after selling 136 shares during the period. Swedbank AB’s holdings in Elevance Health were worth $73,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter worth $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health during the second quarter worth about $28,000. PSI Advisors LLC bought a new stake in Elevance Health in the third quarter worth about $27,000. Eastern Bank purchased a new position in Elevance Health in the third quarter valued at about $31,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. UBS Group decreased their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.3 %

Elevance Health stock opened at $402.55 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week high of $567.26. The stock has a market cap of $93.36 billion, a P/E ratio of 14.68, a PEG ratio of 1.20 and a beta of 0.85. The firm’s fifty day moving average price is $460.70 and its 200-day moving average price is $508.84.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.99 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.62%. Elevance Health’s payout ratio is presently 23.77%.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.