Skandinaviska Enskilda Banken AB publ Sells 13,390 Shares of Elevance Health, Inc. (NYSE:ELV)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,827 shares of the company’s stock after selling 13,390 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Elevance Health were worth $23,539,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC grew its position in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares during the period. Sanders Capital LLC boosted its position in Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP boosted its position in Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.6 %

Shares of NYSE ELV opened at $417.77 on Friday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm’s 50 day simple moving average is $394.44 and its two-hundred day simple moving average is $431.33. The stock has a market capitalization of $94.98 billion, a P/E ratio of 16.31, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 3.38% and a return on equity of 18.28%. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company 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 a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ELV shares. StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Barclays increased their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Finally, Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.