71,955 Shares in Elevance Health, Inc. $ELV Acquired by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab bought a new position in Elevance Health, Inc. (NYSE:ELV) in the second quarter, HoldingsChannel.com reports. The fund bought 71,955 shares of the company’s stock, valued at approximately $27,827,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health during the 4th quarter valued at $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health in the fourth quarter worth $32,000. WealthCollab LLC grew its holdings in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the period. Elevation Wealth Partners LLC increased its position in Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Elevance Health during the second quarter valued at $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ELV shares. Truist Financial raised their target price on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Bank of America increased their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. TD Cowen raised their price objective on shares of Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Stock Up 2.3%

Shares of ELV opened at $399.35 on Wednesday. The business’s 50 day moving average is $394.99 and its 200 day moving average is $358.90. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The company has a market capitalization of $86.61 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the prior year, the company posted $8.84 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts expect that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.