BI Asset Management Fondsmaeglerselskab A S Raises Stock Holdings in Elevance Health, Inc. $ELV

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 130,114 shares of the company’s stock after acquiring an additional 5,027 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Elevance Health were worth $47,854,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ELV. Aspen Investment Management Inc raised its stake in shares of Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after acquiring an additional 27 shares during the last quarter. Regatta Capital Group LLC raised its position in Elevance Health by 3.0% during the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after purchasing an additional 30 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Elevance Health by 1.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after buying an additional 32 shares during the period. Accurate Wealth Management LLC grew its position in shares of Elevance Health by 4.9% in the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock worth $275,000 after buying an additional 33 shares during the last quarter. Finally, Capital Analysts LLC increased its stake in shares of Elevance Health by 6.5% during the first quarter. Capital Analysts LLC now owns 577 shares of the company’s stock valued at $251,000 after buying an additional 35 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ELV shares. Morgan Stanley lifted their price target on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group decreased their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. TD Cowen lifted their price objective on Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $400.83.

Elevance Health Price Performance

Shares of NYSE ELV opened at $358.95 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a 50 day simple moving average of $335.31 and a two-hundred day simple moving average of $332.35. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a market capitalization of $79.77 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.67 and a beta of 0.52.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.37 EPS. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 1.9%. Elevance Health’s payout ratio is presently 27.96%.

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.