Livforsakringsbolaget Skandia Omsesidigt Purchases 8,754 Shares of Elevance Health, Inc. (NYSE:ELV)

Livforsakringsbolaget Skandia Omsesidigt increased its position in Elevance Health, Inc. (NYSE:ELV) by 45.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,836 shares of the company’s stock after buying an additional 8,754 shares during the period. Elevance Health comprises approximately 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s holdings, making the stock its 24th largest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Elevance Health were worth $14,473,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. FIL Ltd lifted its holdings in shares of Elevance Health by 5.0% in the fourth quarter. FIL Ltd now owns 625,143 shares of the company’s stock worth $294,792,000 after buying an additional 30,050 shares in the last quarter. Taylor Financial Group Inc. bought a new stake in Elevance Health in the 4th quarter valued at $974,000. Scarborough Advisors LLC purchased a new stake in Elevance Health in the 4th quarter worth $220,000. Beacon Financial Group bought a new position in shares of Elevance Health during the 4th quarter valued at about $809,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Elevance Health by 8.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 59,230 shares of the company’s stock valued at $27,931,000 after purchasing an additional 4,842 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ELV shares. Truist Financial boosted their target price on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Morgan Stanley started coverage on Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Barclays upped their price target on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $605.07.

Elevance Health Trading Up 2.0 %

Shares of NYSE ELV opened at $501.88 on Friday. Elevance Health, Inc. has a twelve month low of $435.99 and a twelve month high of $567.26. The firm has a market cap of $116.38 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The business has a fifty day simple moving average of $531.94 and a two-hundred day simple moving average of $529.01. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the previous year, the company posted $9.04 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. Analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s payout ratio is 22.86%.

Elevance Health Profile

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.