Maj Invest Holding A S Has $171.53 Million Position in Elevance Health, Inc. (NYSE:ELV)

Maj Invest Holding A S raised its stake in Elevance Health, Inc. (NYSE:ELV) by 47.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 464,986 shares of the company’s stock after acquiring an additional 148,726 shares during the period. Elevance Health accounts for approximately 5.6% of Maj Invest Holding A S’s holdings, making the stock its 7th biggest position. Maj Invest Holding A S’s holdings in Elevance Health were worth $171,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp lifted its holdings in shares of Elevance Health by 1.1% during the second quarter. Mackenzie Financial Corp now owns 73,964 shares of the company’s stock valued at $40,078,000 after purchasing an additional 773 shares during the last quarter. Kathmere Capital Management LLC acquired a new stake in Elevance Health during the 2nd quarter worth about $210,000. Ascent Group LLC lifted its stake in Elevance Health by 30.2% during the second quarter. Ascent Group LLC now owns 4,903 shares of the company’s stock valued at $2,657,000 after buying an additional 1,138 shares in the last quarter. Creative Planning lifted its stake in Elevance Health by 10.3% during the second quarter. Creative Planning now owns 31,156 shares of the company’s stock valued at $16,882,000 after buying an additional 2,901 shares in the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new position in shares of Elevance Health in the second quarter worth about $19,085,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ELV. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. 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 research report on Friday, October 18th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $525.60.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $401.43 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $93.10 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. The business has a 50-day moving average of $386.21 and a two-hundred day moving average of $461.87. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. On average, equities research analysts predict that Elevance Health, Inc. will post 32.95 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 23.77%.

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.