BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 115,576 shares of the company's stock, valued at approximately $42,636,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the 4th quarter worth about $29,000. WealthTrak Capital Management LLC purchased a new stake in Elevance Health in the 4th quarter valued at about $29,000. Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health during the 4th quarter valued at about $30,000. Finally, Crews Bank & Trust acquired a new position in shares of Elevance Health during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Down 0.2 %

Elevance Health stock traded down $0.65 during midday trading on Thursday, hitting $426.22. 744,167 shares of the stock were exchanged, compared to its average volume of 1,450,216. 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 company has a 50 day moving average price of $418.43 and a two-hundred day moving average price of $409.38. The firm has a market cap of $96.49 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

Analyst Upgrades and Downgrades

ELV has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Wednesday. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price on the stock in a report on Monday, March 17th. Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Finally, Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $509.44.

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.