Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Swedbank AB

Swedbank AB boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,727 shares of the company’s stock after purchasing an additional 38,086 shares during the quarter. Swedbank AB owned approximately 0.08% of Elevance Health worth $66,301,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Forsta AP Fonden boosted its holdings in Elevance Health by 1.3% in the fourth quarter. Forsta AP Fonden now owns 70,100 shares of the company’s stock worth $25,860,000 after purchasing an additional 900 shares during the period. R Squared Ltd acquired a new position in shares of Elevance Health during the fourth quarter valued at $321,000. BSW Wealth Partners boosted its holdings in shares of Elevance Health by 42.1% during the fourth quarter. BSW Wealth Partners now owns 709 shares of the company’s stock valued at $262,000 after acquiring an additional 210 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Elevance Health by 11.9% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,490 shares of the company’s stock valued at $1,656,000 after acquiring an additional 478 shares during the period. Finally, Tamar Securities LLC boosted its holdings in shares of Elevance Health by 26.1% during the fourth quarter. Tamar Securities LLC now owns 39,556 shares of the company’s stock valued at $14,592,000 after acquiring an additional 8,184 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ELV shares. Argus reissued a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday. StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Monday. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Morgan Stanley reduced their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, TD Cowen reduced their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Price Performance

Shares of NYSE ELV opened at $400.62 on Thursday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $92.91 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.11 and a beta of 0.84. The firm has a 50-day moving average of $386.65 and a two-hundred day moving average of $459.57.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. As a group, analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.71%. Elevance Health’s dividend payout ratio is currently 26.71%.

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.