Andra AP fonden Buys 9,040 Shares of Elevance Health, Inc. $ELV

Andra AP fonden grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 102.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,880 shares of the company's stock after acquiring an additional 9,040 shares during the quarter. Andra AP fonden's holdings in Elevance Health were worth $6,915,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ELV. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC bought a new position in Elevance Health in the 2nd quarter valued at $28,000. Main Street Group LTD bought a new position in Elevance Health in the 1st quarter valued at $39,000. Elevation Wealth Partners LLC increased its stake in shares of Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock valued at $41,000 after buying an additional 90 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Elevance Health in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ELV. Wells Fargo & Company dropped their target price on shares of Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Bank of America increased their target price on Elevance Health from $435.00 to $460.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $395.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Finally, Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $440.90.

Elevance Health Stock Down 1.1%

Shares of ELV opened at $398.00 on Thursday. The firm has a 50 day simple moving average of $396.36 and a two-hundred day simple moving average of $372.85. The company has a market cap of $86.31 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.09 and a beta of 0.69. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm's revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $8.84 EPS. Research analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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 annualized dividend and a yield of 1.7%. Elevance Health's dividend payout ratio (DPR) is currently 30.58%.

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.